In GSTR-3B return where we have to disclose amount of restricted ITC, if assessee is engaged in both exempt and taxable supplies?
Reply
As mentioned in the query, taxpayer is supplying both taxable and exempt goods, as per Rule 42 of CGST Rules, 2017, ITC (RCM) needs to be reverse to the proportion of exempted supply of goods.
Such amount of reversal is to be shown under column 4(B)(1) of GSTR-3B.
|