GST ITC – 03
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
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GST ITC – 03 of GST – Input Tax Credit – Final Draft Rules 18-5-2017
Form GST ITC -03
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\nDocument 1
\nForm GST ITC -03
\n[See Rule
\nDeclaration for intimation of ITC reversal\/payment of tax on inputs held in stock, inputs contained in semi-finished and
\nfinished goods held in stock and capital goods under sub-section (4) of section 18
\n1. GSTIN
\n2. Legal name
\n3. Trade name, if any
\n4(a). Details of application filed to opt for
\ncomposition scheme
\n[applicable only for section 18 (4)]
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\n5 (a) Inputs held in stock (where invoice is available)
\n5 (b) Inputs contained in semi-finished and finished goods held in stock (where invoice available)
\n5 (c) Capital goods held in stock (where invoice available)
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\n5 (d) Inputs held in stock and as contained in semi-finished \/finished goods held in stock (where invoice not available)
\n5 (e) Capital goods held in stock (where invoice not available)
\n* (1) In case, it is not feasible to identify invoice, the principle of first in first out may be followed.
\n(2) If Invoice is not available for certain inputs or capital goods, the value shall be estimated based on prevailing market price
\n** The value of capital goods shall be the invoice value reduced by five percentage p<\/p>\n
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