When is the filing of Form GST ITC-03 needed for a taxpayer?
In following conditions taxpayer must file Form GST ITC-03:
- The taxpayer has opted for composition scheme or goods or services or both supplied. By a taxpayer becomes wholly exempt or taxpayer whose registration is canceled.
- The taxpayer has availed ITC in respect of input held in stock and input contained in semi-finished goods or finished goods held in stock and on capital goods or plant and machinery.
