Understanding ITC Claim for Non-Reverse Transactions

You can claim GST input tax credit (ITC) for any type of GST (CGST, IGST, SGST, and Cess) included in the price you pay for the inputs—that is the goods and services—to run your business.

You can claim GST credits for non-reverse transactions if these conditions are met:

• You have received the goods or services.

• The goods or services must be only for business purposes.

• GST should be applicable to the input transactions (goods or services).

• The supplier has reported supplies in ANX-1 to the tax authority and you have received the ANX-2 report from the government.

The Anx2 reports contains the Input tax credit (ITC) information available for the purchaser.

To claim the ITC for your purchases, you must perform these tasks:

• Maintain the ANX-2 information in P75I862.

• Run report ANX-2 ITC Claim for Non -Reverse transactions (R75I827)