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ITC 03 if Nil closing stock in 31.03.19

24 May 2019

If a regular taxpayer opted composition scheme for fy 2019-20 and no closing stock on 31st march.19 then he need to file ITC 03 ?
No ITC available in credit ladger.
pls suggest.

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7 Replies

CA Rashmi Gandhi (Chartered Accountant) (86495 Points)
Replied 24 May 2019

You have to file nil ITC-03

1 Like

Kailash Pandey (80 Points)
Replied 24 May 2019

thank u sir

1 Like

CA Rashmi Gandhi (Chartered Accountant) (86495 Points)
Replied 24 May 2019

Welcome pleasure is mine

gauri shankar srivastava (21 Points)
Replied 27 May 2019

but there is no option to file nol return.

Kailash Pandey (80 Points)
Replied 27 May 2019

yes, I had checked but unable to file nil return.
is it mandatory to file ITC-03 if no closing stock ?

gauri shankar srivastava (21 Points)
Replied 27 May 2019

in this case every person is confused.if nil return is mandatory.gstn number invoice date , amount is mandatory field. no option to file nil return just like 3b.