Important Keyword: FORM GST ITC-03, section 18(4).
Table of Contents
FORM GST ITC-03
[See rule44 (4)]
Declaration for intimation of ITC reversal/payment of tax on inputs held in stock, inputs contained in semi-finished and finished goods held in stock and capital goods under sub-section (4) of section 18
| 1. GSTIN | ||
| 2. Legal name | ||
| 3. Trade name, if any | ||
| 4(a). Details of application filed to opt for composition scheme [ applicable only for section 18 (4)] | (i) Application reference number (ARN) | |
| (ii) Date of filing | ||
| 4(b). Date from which exemption is effective [ applicable only for section 18 (4)] | ||
- Details of stock of inputs held in stock, inputs contained in semi-finished or finished goods held in stock, and capital goods on which input tax credit is required to be paid under section 18(4).
| Sr. No. | GSTIN/ Registration under CX/ VAT of supplier | *Invoice /Bill of entry | Description of inputs held in stock, inputs contained in semi finished or finished goods held in stock and capital goods | Unit Quantity Code (UQC) | Qty | Value** (As adjusted by debit note/credit note) | Amount of ITC claimed (Rs.) | |||||
| No. | Date | Central Tax | State Tax | UT Tax | Integrated Tax | Cess | ||||||
| 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 |
| 5 (a) Inputs held in stock (where invoice is available) | ||||||||||||
| 5 (b) Inputs contained in semi-finished and finished goods held in stock (where invoice available) | ||||||||||||
| 5 (c) Capital goods held in stock (where invoice available) | ||||||||||||
| 5 (d) Inputs held in stock and as contained in semi-finished /finished goods held in stock ( where invoice not available) | ||||||||||||
| 5 (e) Capital goods held in stock (where invoice not available) | ||||||||||||
* (1) In case, it is not feasible to identify invoice, the principle of first in first out may be followed.
(2) If Invoice is not available for certain inputs or capital goods, the value shall be estimated based on prevailing market price
** 1[The value of capital goods shall be the invoice value reduced by 1/60th per month or part thereof from the date of invoice]
- Amount of ITC payable and paid (based on table 5)
| Sr. No. | Description | Tax payable | Paid through Cash/ Credit Ledger | Debit entry no. | Amount of ITC paid Standard | ||||
| Central Tax | State Tax | UT Tax | Integrated Tax | Cess | |||||
| 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 |
| 1. | Central Tax | Cash Ledger | |||||||
| Credit Ledger | |||||||||
| 2. | State Tax | Cash Ledger | |||||||
| Credit Ledger | |||||||||
| 3. | UT Tax | Cash Ledger |
| Credit Ledger | |||||||||
| 4. | Integrated Tax | Cash Ledger | |||||||
| Credit Ledger | |||||||||
| 5. | CESS | Cash Ledger | |||||||
| Credit Ledger |
Verification
I _______________________ hereby solemnly affirm and declare that the information given hereinabove is true and correct to the best of my knowledge and belief and nothing has been concealed there from.
Signature of authorised signatory Name
Designation/Status
Date -dd/mm/yyyy
- Substituted vide Notification No. 21/2018 dt 18.04.2018 for “The value of capital goods shall be the invoice value reduced by five percentage points per quarter of a year or part thereof from the date of invoice”.
Official Income Tax Return filing website: https://incometaxindia.gov.in/
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