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GST Rule 42 & 43 ITC Reversal Studio

GSTR-3B Table 4(B)(1)GSTR-9 Table 7

Statutory apportionment of input tax credit on common inputs, input services, and 60-month capital goods with annual true-up interest.

1. Input Tax Breakdown (Inputs & Services)

Total IGST, CGST, SGST on inputs & input services.

2. Turnover Proportions

Exempt supplies, nil-rated, non-GST supplies, and RCM outward supplies.

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Statutory & Compliance Disclaimer

This tool is an automated calculation, formatting, and compliance aid provided for informational purposes only. It does not constitute formal legal, taxation, or professional auditing advice. Calculations, citations, and draft documents must be independently verified by a qualified Chartered Accountant (CA) or Company Secretary (CS) against statutory provisions and applicable ICAI/ICSI guidelines before execution or certification.

GSTR-3B Table 4(B)(1) Reporting

Mandatory Monthly ITC Reversal: ₹38,750

Includes ₹31,000 (exempt supply apportionment) + ₹7,750 (5% non-business).

Exempt Ratio (E/F)

20.00%

Statutory Rule 42 Input Tax Credit Apportionment Working Paper

Central Goods and Services Tax Rules, 2017 | Section 17(2) & Rule 42

1. Total Input Tax on Inputs & Input Services (T)₹5,00,000
Less: Exclusively used for non-business purposes (T1)-₹20,000
Less: Exclusively used for exempt supplies (T2)-₹40,000
Less: Ineligible / Blocked credits u/s 17(5) (T3)-₹35,000
2. ITC Credited to Electronic Credit Ledger (C1 = T - T1 - T2 - T3)₹4,05,000
Less: Exclusively used for taxable & zero-rated exports (T4)-₹2,50,000
3. Common Input Tax Credit (C2 = C1 - T4)₹1,55,000
Ineligible credit for exempt supplies (D1 = (E / F) × C2)₹31,000
Ineligible credit for non-business purpose (D2 = 5% of C2)₹7,750
Total Rule 42 Ineligible Reversal (D1 + D2) [GSTR-3B Table 4(B)(1)]₹38,750
Net Usable Eligible ITC (T4 + C3)₹3,66,250

* Note: Monthly calculation is provisional. An annual true-up reconciliation must be finalized before the 30th of November following the end of the financial year per Rule 42(2).