Agar Koi Exempt Food sale kar raha hai aur usko Packing material & Insurance company Ki ITC 2A me show rahi hai toh aise case me GSTR 3b me ITC claim hogi yaa usko Ineligible ITC me fill kiya jayega.
Please clearly explain.
5 Replies
Chartered Accountants ASPIRANT
(28 Points)
Replied 20 July 2021
Any ITC of Inputs or input services or capital goods which are used in making exempt supply cannot be availed by the RP
CA Akshay Hiregange
(Partner - Audit & Assistance)
(4825 Points)
Replied 20 July 2021
Suggest you to disclose ineligible credits in table 4.B.2 (ITC reversal others) in GSTR 3B.
This would be a disclosure only, but helps the govt. identify its revenue.
E.vikas
(Articleship)
(54 Points)
Replied 21 July 2021
Hai Akshay I think that is not a case of reversal so it should be disclosed in table 4.D.2 not in tabe 4.B.2.
CA Akshay Hiregange
(Partner - Audit & Assistance)
(4825 Points)
Replied 21 July 2021
Yes if credit not claimed and only a disclosure then 4.D.
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