Hello sir,
what's if excess ITC reverse under rule 42.
client hase recived part OC and at the time of part OC client reverse ItC in 3b and at the time of full OC ITC reverse calculate and same is less than previously reverse now what treatment in GSTR 9?
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Rule 42 reversal under exempt supply
Replies (2)
If ITC was initially taken and then in later month reversed in this case ITC can be reclaimed.
But if reversed in the same month then there are issues
But if reversed in the same month then there are issues
It related to exempted supply,which export purchase or supply to SEZ unit.
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