ITC Reversal of Exempted goods
This query is : Resolved
04 March 2025
Dear Sir,
We have received Notice for 2017-18,
Case- Excess claim of ITC and non-reversal of ITC claimed and utilized for making exempted supplies during the period.
Actual our business activities is Fresh Gherkins, Gherkins Seeds and Gherkins in Acetic acid
Gherkins in acetic acid is 5% GST HSN Code- 07114000
Fresh Gherkins is Nil Rated
Gherkins Seeds as nill Rated
we have not claimed ITC related for Fresh Gherkins and Seeds so both activities is there in our business,
Purchase also Exempted and Sales also exempted, so how to reversal of ITC.
So kindly replay for this anyone.
Regards,
Raghu S
We have received Notice for 2017-18,
Case- Excess claim of ITC and non-reversal of ITC claimed and utilized for making exempted supplies during the period.
Actual our business activities is Fresh Gherkins, Gherkins Seeds and Gherkins in Acetic acid
Gherkins in acetic acid is 5% GST HSN Code- 07114000
Fresh Gherkins is Nil Rated
Gherkins Seeds as nill Rated
we have not claimed ITC related for Fresh Gherkins and Seeds so both activities is there in our business,
Purchase also Exempted and Sales also exempted, so how to reversal of ITC.
So kindly replay for this anyone.
Regards,
Raghu S
CA R SEETHARAMAN
(Expert)
04 March 2025
Reply as above and say no ITC claimed related to exempt goods hence no reversal is required.
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