GST ITC Formats, Download GST Input Tax Credit Formats 2018. Download Goods And Services Tax ITC Formats as per GST Act 2018 in PDF and Excel Format. Download GST ITC Formats in PDF Format. Download Goods and Service Tax ITC Formats in PDF Format. GST Council Release new Goods and Service Tax Rules and Formats as per GST Bill 2018 – Download all ITC Formats from below direct link…. Recently GST Registration Process is Started and Here we also try to provide these GST ITC Formats in Excel Format. Here we are providing All Formats for ITC of GST Like – GST ITC 01, Form GST ITC 02, Form GST ITC 03, Form GST ITC 04.. Now Scroll Down below n Download GST ITC Formats, Download GST Tax ITC Forms in PDF.
“input tax credit” means the credit of input tax – For a tax to qualify as “input tax credit”, it must first be “input tax”. The law creates a separate terminology for this purpose as all input tax would not qualify as credit. Credit of input tax would be available subject to specific conditions and restrictions, and to specific persons being registered persons.
Eligibility – Every registered person shall, subject to such conditions and restrictions as may be prescribed and in the manner specified in section 49, be entitled to take credit of input tax charged on any supply of goods or services or both to him which are used or intended to be used in the course or furtherance of his business and the said amount shall be credited to the electronic credit ledger of such person
GST ITC Formats 2018
| Form No. | Description |
| Form GST ITC – 1 | Declaration for claim of input tax credit under sub-section (1) of section 18 |
| Form GST ITC – 2 | Declaration for transfer of ITC in case of sale, merger, demerger, amalgamation, lease or transfer of a business under sub-section (3) of section 18 |
| Form GST ITC – 3 | Declaration for intimation of ITC reversal on inputs, inputs contained in semi-finished and finished goods and capital goods in stock under sub-section (4) of section 18. |
| Form GST ITC – 4 | Details of goods/capital goods sent to job worker and received back. |
FORM GST ITC 01
The registered person shall within thirty days from the date of his becoming eligible to avail of input tax credit under sub-section (1) of section 18 shall make a declaration, electronically, on the Common Portal in FORM GST ITC-01 to the effect that he is eligible to avail of input tax credit as aforesaid.
FORM GST ITC 02
A registered person shall, in the event of sale, merger, de-merger, amalgamation, lease or transfer or change in ownership of business for any reason, furnish the details of sale, merger, de-merger, amalgamation, lease or transfer of business, in FORM GST ITC-02, electronically on the Common Portal along with a request for transfer of unutilized input tax credit lying in his electronic credit ledger to the transferee:
The transferee shall, on the Common Portal, accept the details so furnished by the transferor and, upon such acceptance, the un-utilized credit specified in FORM GST ITC-02 shall be credited to his electronic credit ledger.
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FORM GST ITC 03
The amount determined under sub-rule (1) shall form part of the output tax liability of the registered person and the details of the amount shall be furnished in FORM GST ITC-03, where such amount relates to any event specified in sub-section (4) of section 18 and in FORM GSTR-10, where such amount relates to cancellation of registration.
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