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Final Return

Soni Ketan (23 Points)

02 August 2020

can Final Return 10 direct file with out put information table 8A,8B,8C and Table 8D. ?

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3 Replies

Sagar Patel (Tax and Business Consultant) (11611 Points)
Replied 02 August 2020

If on date of closing business, you have any closing stock of input, semi-finished goods or finished goods held in stock, and capital goods/plant and machinery on which input tax credit is already claim by you in GST return.
than you have to compulsorily mention that details in table 8A,8B,8C and Table 8D, reverse the credit already claimed and pay back to government.

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Pankaj Rawat (GST Practitioner) (55052 Points)
Replied 02 August 2020

Yes can be file return If you don't have any input (Stock Goods) & Capital Goods (On which you have claimed ITC) .

As per Rule 44 , the Input on capital goods need to be Reverse on remaining useful life of Asset , computed on prodata basis , taking useful life 5 years .
Formula for the same :
ITC on capital Goods X Remaining Life ÷ 60

Bhavika Kothari (CA) (1258 Points)
Replied 07 August 2020

Yes Final Return 10 can be directly filed with output information in table 8A, 8B, 8C and 8D. Only thing which you need to check is there should be any input or capital goods, in stock, on which ITC has already claimed.