Whether the common credits are reversed as per Rule 42 of the CGST Rules?
As per Rule 42, reversal is required for that portion of common credit which is attributable to exempt supplies or for non-business use. The common credits are reversed as per Rule 42 of the CGST Rules in GSTGSS Software.
Common Credit is ITC on inputs partly used for exempt supplies or personal use. Both these ITC amounts as calculate have to be reversed in the GSTR 2 filed by the dealer.
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