banner_ad

ITC reversal

234 views 3 replies
How to calculate ITC reversal
Replies (3)
If the input tax credit is wrongly claimed, then it should be reversed by making payment to that extent next month.
You can reverse the entry in next month by reducing your input
1.ITC reversed based on the basis of Taxable and extempted turoner ratio.i.e exemted turnover/ Total turnover.
2. if it is related to blocked credits whole amount should be reversed.


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured 02 May 2026
Senior Executive

hitesh chandwani & co

Pune

B.Com

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details