Home » GST Audit » ITC Reversed and Ineligible ITC For the Financial year
Under GSTR 9 Annual Return ITC Reversed and Ineligible ITC For Financial year is about reversal of GST Credit during the annual GST Return period. This section is about GST Credit reversal As per Rule 37, As per Rule 39, As per Rule 42, As per Rule 43, As per section 17(5). Also where GST Registered person who carried excess or ineligible credit in GST Trans return same also need to be revered in ITC Reversed and Ineligible ITC. Form GSTR 9 will automatically calculates amount of GST reversal applicable.
Content of ITC Reversed and Ineligible ITC under GST Annual Return
7 | Details of ITC Reversed and Ineligible ITC as declared in returns filed during the financial year | Integrated tax (₹) | Central tax (₹) | State/UT tax (₹) | State/UT tax (₹) |
A | As per Rule 37 | ||||
B | As per Rule 39 | – | |||
C | As per Rule 42 | ||||
D | As per Rule 43 | ||||
E | As per section 17(5) | ||||
F | Reversal of TRAN-I credit | ||||
G | Reversal of TRAN-II credit | ||||
H | Other reversals (pl. specify) | ||||
I | Total ITC Reversed (A to H above) | – | – | – | – |
J | Net ITC Available for Utilization (6O – 7I) | – | – | – | – |