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ITC 03 QUERY

16 May 2019

if I have no ITC on 31.03.2019 and I applied composition scheme as service provider on 01 april 2019 for 2018-20 then is it necessary to file ITC 03.I am dealer of tent, mattress etc.

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2 Replies

Padmanathan Kv (2127 Points)
Replied 16 May 2019

do you have any stock of goods on 31/03/2019 on which you have taken credit during purchase? if you have any stock then you have to reverse the credit in ITC-03 and pay via electronic cash ledger since you don't have any ITC on the date.

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gauri shankar srivastava (21 Points)
Replied 16 May 2019

I am dealing in tent mattreses ( transfer of right to use) in vat period I was in conposition scheme but in gst period I have purchased some curtain chairs and ITC has been utilised in month of feb 2019. since then no purchase no ITC.I have opted composition scheme (service provider)on 01 april 2019.all the goods are in form of capital goods.
Iwant to file nil ITC 03 but no option on portal because invoice no and date is mandatory field but there is no ITC in credit ledger on 31.03.2019. what to do pls advice.