Rule 42 reversal under exempt supply

This discussion addresses the complexities of reversing Input Tax Credit (ITC) under Rule 42, particularly when a client receives a partial Occupancy Certificate (OC) and later a full OC. It explores scenarios where ITC was initially taken and then reversed, and whether it can be reclaimed. The focus is on the treatment of such reversals, especially concerning exempted supplies, export purchases, or supplies to SEZ units, and how these impact GSTR 9 filings.