ITC Reversal under Rule 42 & 43: A Step-by-Step Breakdown
For many businesses, one of the trickiest parts of GST compliance is handling Input Tax Credit (ITC) reversal under Rule 42 & 43 of the CGST Rules. The rules are designed to ensure that businesses only claim ITC proportionate to their taxable supplies. But in practice, confusion around calculations often leads to errors, interest, or […]
