Home Forum Goods and Services Tax - GST Month 4 2021 2021 (4) This
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ITC Reversals in GSTR3B - Goods and Services Tax - GSTExtract This is the case of a hospital clinic filing under QRMP scheme. While filing GSTR-3B , the Gross input tax credit comes from GSTR-2B . Credit which cannot be taken has to be reversed. We have 2 options to reverse credit. First option is to reverse u/s 42 and 43 . Another option is to reverse under Other Reversals So the questions are: i) There are input goods/services that are fully used to supply exempt services. Under which of the 2 options above is such ITC to be reversed. ii) What reversal is to be shown in Other Reversals? iii) Whether instead of considering reversals,we need to consider such credits are ineligible credits?
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