Other GST Transactions ​

Reversal of Input Tax Credit ​

To book reversal of ITC go to Journal Entry doctype and follow the following steps

1. Select "Entry Type" as "Reversal Of ITC"
2. In "Reversal Type" select "As per rules 42 & 43 of CGST Rules" or "Others" based on the types of reversal
3. Select appropriate Company Address (GSTIN) for which ITC is being reversed
4. Fill the accounts and amounts in the Accounting Entries as shown below
5. Save and Submit