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of <h1>Reversing Input Tax Credit under Rule 44 and 44A: Process, Conditions, and Reporting Requirements Explained</h1> Under special circumstances, registered persons must reverse Input Tax Credit (ITC) through debits in electronic ledgers. These circumstances include switching to a composition scheme, wholly exempt supplies, registration cancellation, and non-payment by suppliers. Rule 44 outlines the reversal process for inputs and capital goods, requiring proportional calculations based on invoices. If invoices are unavailable, estimates based on market prices must be certified by accountants. Rule 44A addresses ITC reversal for gold dore bars. Reversed amounts become part of the output tax liability, reported in specific GST forms. An example illustrates ITC reversal calculations for a registered person in Gujarat.
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