Clarification related to Rule 43, Goods and Services Tax - GST

[Rajesh Kumar]

Respected sir/ madam,

Please inform as per the provisions of Rule 42, the proportionate reversal of ITC to be done on monthly basis and at the end of the financial year , yearly calculation also to be done. Accordingly, ITC reversal or re credit can be done.

Is there any provision under Rule 43 for yearly calculation also Or only monthly calculation proposed?

Posts / Replies

[Shilpi Jain]

Rule 43 only monthly calculation and reversal.

No yearly re-calculations required.