Your ITC Reversal Working Sheet is ready — with 4 fully linked sheets and 115 live formulas:
Sheet 1 — Rule 42 (Input & Input Services)
- Part A: Aggregate ITC computation (T, T1, T2, T3 → C1 Common ITC)
- Part B: Turnover details — Taxable, Zero-rated, Exempt, Non-Business
- Part C: Proportionate reversal calculation = C1 × (Exempt + Non-Business Turnover / Total Turnover)
- Net ITC available after reversal
Sheet 2 — Rule 43 (Capital Goods)
- Asset-wise register with purchase date, invoice details, total ITC (Tc)
- Monthly reversal = (Tc ÷ 60) × (Exempt/Total Turnover) per asset
- Cumulative reversal and Net ITC Allowed columns
- IGST/CGST/SGST split of reversal amount
Sheet 3 — Section 17(5) Blocked Credits
- Invoice-wise register of blocked credit items
- Clause-wise tagging (17(5)(a) motor vehicles, (b) food/accommodation, (c) works contract, etc.)
- Flags whether ITC was availed in books → auto-calculates reversal required
Sheet 4 — Consolidated Monthly Summary
- Month-wise breakup (Apr–Mar) of all reversal categories
- Total reversal row + Net ITC available row
- Ready reference for GSTR-3B Table 4(B)(1) & 4(B)(2) filing
