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Itc Sez supplies

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Haritha

Dy.Manager Hr&Finance

122 Points Posted on 13 June 2020

Dear Experts

we have Import n Export License, LUT also

we have purchased some goods Fy 1920, and adjusted the ITC in GSTR 3B,
and after few months we have sold those goods to SEZ customers with no tax In Invoice.
purchase value of those goods are around 2000000/- which ITC already we have adjusted in 3B returns.

now my query is..

now at the end of the year we have to reverse ITC??

Replies (4)

Quick Summary

This discussion clarifies the treatment of Input Tax Credit (ITC) when goods purchased in a previous financial year are subsequently supplied to SEZ customers without tax. Although ITC was already adjusted in GSTR 3B, it's confirmed that a reversal of this ITC is required. The good news is that you can then claim a refund for the unutilised input tax credit.