Menu
Urgent GST query
We deal in exempted goods but on some inputs we're charged GST. The ITC hasn't reversed since GST implementation. What to do now? Shall we reverse the entire ITC at once or on monthly basis?
Replies (2)
Hi
If you have not reversed ITC from July 2017 to February 2018, then calculate the total reversal for those 8 months and reverse it when filing return for the month of March 2018.
Also refer rule 42 of CGST Rules, 2017 for calculation of the same
Thank You
Thanks....Then the entire ITC will be reversed at once
Recent Topics :
- Seeking Clarification on Business Code Selection a
- CG on property sold after construction of a house
- Nursing Home Taxability
- CA opted for Form 10IEA mistakenly - Demand raised
- Query on scenario related to FAST DS 2026
- Audit Executive (Remote, India) - Ace Auditing Off
- GST Transaction On Used Clothing
- ITC availed on 5%-rate passenger transport (AC bus
- Extension of Due Date of AY 2026-27
- FAST DS 2026
Related Topics :
09 September 2026
SENIOR AUDITOR & ACCOUNTS MANAGER
Anupam Parashar & Co.
Ghaziabad
CA Final
View Details
ARTICLESHIP
18 September 2026
Industrial Trainee
Twenty Point Nine Five Ventures Private Limited
Noida
CA Inter
View Details
Featured
11 September 2026
Audit Executive
RBSM Corporate Advisors Private Limited
Pune
CA
View Details
ARTICLESHIP
01 September 2026
Articles
Saini Pati Shah & Co LLP, Chartered Accountants
Mumbai
CA Foundation
View Details
CCI
Pro
CAclubindia
