Itc of stock after cancellation of registration

RAHIL (ACCOUNTANCY) (247 Points)

31 May 2018

I have applied for cancellation of registration of GST. Now what is the treatment for Input tax credit on stock in hand?

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5 Replies

RAJA P M ("Do the Right Thing...!!!") (127233 Points)
Replied 31 May 2018

ITC also reversible...

1 Like

Subhkaran Surana (343 Points)
Replied 31 May 2018

ITC is to be reversed as per section 18(4) of CGST Act, 2017 read with rule 43 of the CGST Act, 2017

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vinod babu (132 Points)
Replied 31 May 2018

Yes claimed ITC should be reversed.

Vinod Babu (24191 Points)
Replied 01 June 2018

Yes claimed ITC should be reversed.

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RAHIL (ACCOUNTANCY) (247 Points)
Replied 01 June 2018

How should I reverse the claim?

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