CA Final/Inter Fast track classes available for May 20 attempt. Call: 1800-3000-0505

Regarding ITC Reversal


harsh j   24 January 2020

harsh j

 1 likes  18 points

| My Other Post

Please suggest me regarding this issue.
One of my Assessee has taken Excess ITC in 2017-18 and neither reversed it in 2017-18 nor in 2018-19 and now making payment for it through DRC-03 So my query is whether to show it in GSTR9- Table No-7 or not to show in GSTR9.

1 Like
avater

Roshni (Studwnt)     24 January 2020

Roshni
Studwnt 
 66 likes  997 points

View Profile | My Other Post

Need to show

harsh j   24 January 2020

harsh j

 1 likes  18 points

View Profile | My Other Post

Where

avater

Pankaj Rawat (GST Practitioner)     24 January 2020

Pankaj Rawat
GST Practitioner 
 3225 likes  43371 points

View Profile | My Other Post

Yes can Report in table 7(H) in GSTR 9

harsh j   08 March 2020

harsh j

 1 likes  18 points

View Profile | My Other Post

Pls suggest regarding my query.
A Dealer who runs an oil Mill purchases a cotton seed which is taxable @ 5%.
For example we may consider he purchase cotton seed for rs 1000000 and gst on it is rs. 50000.
Now he sale out 50% cotton seed as it is after adding his profit and for remaining 50% he put into crushing and two products get manufactured 1 is Oil and another is Cotton cake. Here cotton cake is exempted and oil is taxable from the manufacturing process 92% cake is manufactured and only 8% oil is manufactured. Now he has to make reversal of itc so my query is will he be able to take 50% itc fully which he have sold out as it is and for remaining 50% Rule 42 of gst reversal will apply or for full 100% Itc


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register  



Popular Discussion


view more »