what comes under ITC Reversed (a) As per Rule 42 & 43 of CGST/SGST rules (b) Others in GSTR 3B?
11 Replies
Sahil Jain (FAFD, DISA, CA)
(Practicing Chartered Accountant )
(2476 Points)
Replied 30 March 2019
if goods / services are partly used for business and partly for personal purpose, then input tax credit on such supply needs to be reversed under rule 42 & 43.
However if you want to make amendments in ITC, like wrong ITC claimed or excess ITC claimed previously, and now you want to reverse the same.. then you will reverse the same in Others in GST-3B
However if you want to make amendments in ITC, like wrong ITC claimed or excess ITC claimed previously, and now you want to reverse the same.. then you will reverse the same in Others in GST-3B
Avinash Jeevan Dsouza
(Assistant In Charge Accountant)
(3292 Points)
Replied 30 March 2019
For office purpose we have brought stationery and we can not claim ITC on such item, where shall treat it as? ITC reversal or ITC on ineligible item?
shailendra shukla
(Bhopal)
(1741 Points)
Replied 31 March 2019
if you already claimed it, then reverse it in coloumn " itc reversal " others......
if not claimed then show it in... "inelligible itc"........
waise why you can not claim itc of stationery???.....
if not claimed then show it in... "inelligible itc"........
waise why you can not claim itc of stationery???.....
Avinash Jeevan Dsouza
(Assistant In Charge Accountant)
(3292 Points)
Replied 01 April 2019
in ineligible there are two options in which we need to show?
a) As per section 17(5)
b) Others
in ITC reverse there are two options in which we need to reverse?
a) As per Rule 42 & 43 of CGST/SGST rules
b) Others
shailendra shukla
(Bhopal)
(1741 Points)
Replied 01 April 2019
waise why you cannot claim itc of stationery for office purpose?.....
Avinash Jeevan Dsouza
(Assistant In Charge Accountant)
(3292 Points)
Replied 01 April 2019
and can you explain me how do we need to treat the ITC. If the ITC for business purpose is 400 and non buiness purpose in 400 so total ITC is 800/-
so please tell us whether the below treatment of the transaction is correct?
(A) ITC Available (whether in full or part)
(5) All other ITC Rs. 800
(B) ITC Reversed
(1) As per Rule 42 & 43 of CGST/SGST rules Rs. 400
Avinash Jeevan Dsouza
(Assistant In Charge Accountant)
(3292 Points)
Replied 01 April 2019
| Originally posted by : shailendra shukla | ||
 |
waise why you cannot claim itc of stationery for office purpose?..... |  |
as suggested from by an Auditor, as the stationery are being not used directly for the purpose of core business.
Avinash Jeevan Dsouza
(Assistant In Charge Accountant)
(3292 Points)
Replied 01 April 2019
Its hospital,
Avinash Jeevan Dsouza
(Assistant In Charge Accountant)
(3292 Points)
Replied 01 April 2019
And hospital service is exempt from GST and same can not be claimed.
shailendra shukla
(Bhopal)
(1741 Points)
Replied 01 April 2019
i think it falls under sec 17(5) health care services.......... plzz comfirm with others also m not sure about it.......if it falls so you have declare it under inelligible itc as per sec 17(5)....
plzzz confirm with others.... i don't have definite idea regarding this.......
plzzz confirm with others.... i don't have definite idea regarding this.......
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