TaxTMI 
TaxTMI 
Dear experts
Refer GST Trans 1 Return.
In 5 c table, what is coloumn 7 "ITC reversal retable to 3 and 5 ".
Kindly suggest what amount to be entered in this coloumn.
Expert opinion is expected urgently to file correct return.
Trans1 return
18 Sep 2017 
2 Replies 
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Input tax credit reversal: record ITC reductions for unreceived concessional declarations and mandated stock transfer reversals.
Column 7 of Trans1 captures Input Tax Credit reversal amounts related to items in columns 3 and 5. It includes (a) reductions for unreceived concessional inter state declarations where carry forward ITC is lowered by the value of pending forms multiplied by the tax rate differential, and (b) reversals required on stock transfers when states prescribe a percentage of value to be reversed. (AI Summary)
Column 7 of Trans1 captures Input Tax Credit reversal amounts related to items in columns 3 and 5. It includes (a) reductions for unreceived concessional inter state declarations where carry forward ITC is lowered by the value of pending forms multiplied by the tax rate differential, and (b) reversals required on stock transfers when states prescribe a percentage of value to be reversed. (AI Summary)