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<h1>Form GST ITC-03: Declare Reversal or Payment of ITC on Goods, Ensure Compliance Under Section 18(4) GST Act.</h1> Form GST ITC-03 is used for declaring the reversal or payment of input tax credit (ITC) on inputs, semi-finished and finished goods, and capital goods under Section 18(4) of the GST Act. It includes details such as GSTIN, legal and trade names, application reference number for opting into the composition scheme, and effective exemption dates. The form requires detailed reporting of stock, including inputs and capital goods, with or without invoices, and the ITC claimed. It also outlines the tax payable and paid, verified by an authorized signatory, ensuring compliance with GST regulations.