Dear Experts,
The definition of exempt supply u/s 2(47) of CGST Act includes Non Taxable Supply. Does the term 'non taxable supply' is equivalent to 'Non-GST supply' as per table 3.1.e of Form GSTR-3B & Table -8 of GSTR-1?
If yes. Whether ITC reversal u/r 42 needs to be computed on total of (exempt supply + non gst supply )?
We are showing reimbursement amount in Invoice as Non GST supply in GSTR-1 & 3B. whether reversal u/r 42 is required on non gst supply?
Distinguishing Non-Taxable vs. Non-GST Supplies: Understand ITC Reversal and Reporting Rules Under GST Framework A discussion on a forum revolves around the distinction between 'non-taxable supply' and 'non-GST supply' under the GST framework. The query seeks clarification on whether non-taxable supplies equate to non-GST supplies in tax forms and if Input Tax Credit (ITC) reversal is necessary for these supplies. Experts clarify that non-GST supplies are outside the GST scope, while non-taxable supplies are exempt from tax under the CGST Act. Reimbursements as a 'pure agent' should not be considered in turnover or shown as non-GST supplies in tax forms, hence no ITC reversal is needed. (AI Summary)
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