https://www.taxtmi.com/forum/issue?id=115335 If taxable outward supplies existed, declare them, pay the tax and adjust ITC; if only exempt supplies and no prospect of taxable supplies, reverse the ITC so it is treated as not taken. Communicate with the jurisdictional officer and correct in the annual return. A cited High Court decision held that a mere entry of ITC in return forms does not amount to availing the credit, supporting reversal without interest where the credit was not utilised. en-us Sun, 18 Aug 2019 15:36:49 +0530 Thu, 23 Jan 2025 15:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=115335 If taxable outward supplies existed, declare them, pay the tax and adjust ITC; if only exempt supplies and no prospect of taxable supplies, reverse the ITC so it is treated as not taken. Communicate with the jurisdictional officer and correct in the annual return. A cited High Court decision held that a mere entry of ITC in return forms does not amount to availing the credit, supporting reversal without interest where the credit was not utilised. Discussion-Forum GST Sun, 18 Aug 2019 15:36:49 +0530 https://www.taxtmi.com/forum/issue?id=115335