We are starting a new Gym . We are in the process of setting up the Gym.
So no sales yet but we have capital assets purchases . So Last month though we had Purchases I wrongly filed Nil Gstr3B.
How can I rectify. Pls advise.
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Wrongly Filed Nil GSTR3B
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As per my view,
Claim the missed details in Your next GSTR 3b return. And keep details of the ITC available/claim for reference if TO issue notice...
Claim the missed details in Your next GSTR 3b return. And keep details of the ITC available/claim for reference if TO issue notice...
As per my opinion you have to take ITC in next month gstr3b..
Capital goods ITC during setup:
• If you filed a nil GSTR-3B but had purchases (capital goods like gym equipment) with ITC, you can claim that ITC in a later 3B (Table 4A(5)), within the Sec 16(4) time limit (30 November following the FY end).
• A nil return is fine for outward supplies (none yet). ITC can be claimed when you're ready, as long as the invoices are in 2B.
• Gym equipment (plant and machinery) is eligible. The gym building or interiors (immovable) are blocked under 17(5)(d).
• GST on gym membership fees (18%) can be offset by this ITC once operations start.
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