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of <h1>Kerala SGST Circular: Reverse Ineligible ITC Claims on Blocked Transactions per Section 17(5) to Avoid Penalties.</h1> The circular issued by the State Goods and Services Tax Department, Kerala, addresses the issue of input tax credit (ITC) claimed on blocked transactions under Section 17(5) of the SGST Act 2017. It highlights scenarios where ITC is not permissible, such as claims on passenger motor vehicles, construction services, and goods or services used for constructing immovable property, among others. The document advises taxpayers who have claimed ITC on these blocked transactions to reverse the credits to avoid penalties. It also outlines the correct procedure for declaring ineligible ITC in the monthly GSTR 3B filings. Trade associations are urged to inform their members about these regulations.
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