The Key Features of FORM GST ITC-03 Offline Utility are:
The ITC-03 details can be prepared offline with no connection to Internet.
Most of the data entry and business validations are in-built in the offline tool reducing errors upon upload to GST Portal.
Access the GST Portal www.gst.gov.in .
Go to Downloads > Offline tools > FORM GST ITC-03 Offline Tool button and click on it.
Unzip the downloaded Zip file which contain ITC_03_Offline.xls excel sheet
Open the ITC_03_Offline_Utility.xls excel sheet by double clicking on it.
Read the Read me text file and help instructions on excel sheet.
The offline functions work best on Windows 7 and above, with Internet explorer 10+ and MSEXCEL 2007 and above. Detailed system required are available at (https://www.gst.gov.in/download/returns ).
One can launch the FORM GST ITC-03 Offline Utility by double clicking the downloaded ITC_03_Offline_Utility Excel sheet.
The detailed user manual can be downloaded along with the FORM GST ITC-03 Offline Utility as a read me text document and help instructions on excel sheet.
As of now ITC 03 Offline tool cannot be used on mobile. Currently, ITC 03 Offline tool can only be used on desktops.
Form GST ITC-03 is to be filed by taxpayer who has availed input tax credit (ITC) and
Who opts for composition scheme or
Where goods or services or both supplied by him become wholly exempted
GST ITC-03 is a Form to be filed to pay an amount through the common portal, by way of debit in the electronic credit ledger or electronic cash ledger equivalent to credit availed in respect of:
Inputs held in stock, and
Inputs contained in semi-finished goods or finished goods held in stock, and
Capital goods held in stock
by taxpayer who opts for composition scheme or where goods or services or both become wholly exempted.
Details of stock, on the day immediately preceding the date of exercising the option or as the case may be, the date of such exemption, of inputs held in stock, inputs contained in semi-finished or finished goods held in stock, and capital goods on which input tax credit is availed and same needs to be reversed or paid if utilized, under section 18(4).
Taxpayer has filed intimation in Form GST CMP-02 to opt for composition scheme or
Government has issued notification regarding exempting any supplies of goods or services or both supplied by taxpayer have become wholly exempted.
Taxpayer has availed ITC in respect of input held in stock and input contained in semi-finished goods or finished goods held in stock and on capital goods held in stock.
In case an intimation in Form GST CMP-02 has been filed on or before 31st March, 2018, taxpayer shall furnish GST ITC-03 within a period of 180 (one hundred eighty) days from the day on which he commences to pay tax under composition.
In case an intimation in Form GST CMP-02 is filed after 31st March, 2018, taxpayer shall furnish GST ITC-03 within a period of 60 (sixty) days from the commencement of the financial year for which the option to pay tax under composition is exercised.
Any intimation filed to pay tax under Section 10 in respect of any place of business in any State or Union territory shall be deemed to be an intimation in respect of all other places of business registered on the same Permanent Account Number. Thus form GST ITC-03 needs to be filed for all GSTINs on same PAN.
Login with valid credentials to the GST Portal and click the Services > Returns > ITC FORMS > ITC03 command to file GST ITC-03.
Details of quantity and value of all stock of inputs held in stock, inputs contained in semi-finished or finished goods held in stock, and capital goods has to be furnished where invoices are available and where invoices are not available separately.
Where the invoices for determining the value are not available, the registered person shall estimate the amount based on the prevailing market price of the goods on the effective date of the occurrence of any of the events which have necessitated the filing of Form GST ITC-03. These details furnished shall be duly certified by a practicing chartered accountant or cost accountant. Such Certificate has to be uploaded with the Form GST ITC-03 before filing the Form.
Once Saved, the option of Offset liability in Table 6 will be available to the taxpayer. Tax payer will click the ‘OFFSET LIABILITY’ button through which the system will check the total liability being paid off with the balance available in the respective Electronic Cash Ledger or Electronic Credit Ledger.
portal (in. JSON format) and open it in offline tool for modification. This will auto populate the details in the offline tool basis the data entry sections in this file.
‘Generate File to Upload’ button is used to create the data file (in .JSON format) of details and modifications in offline tool. The data file will be uploaded in the online GST portal for further processing of Form GST ITC-03.