Form GST ITC -03
Declaration for intimation of ITC reversal/payment of tax on inputs held in stock, inputs contained in semi-finished and finished goods held in stock and capital goods under sub-section (4) of section 18
5) Details of stock 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 required to be paid under section 18(4).
(1) In case, it is not feasible to identify invoice, the principle of first in first out may be followed.
(2) If Invoice is not available for certain inputs or capital goods, the value shall be estimated based on prevailing market price
** [The value of capital goods shall be the invoice value reduced by 1/60th per month or part thereof from the date of invoice]
6) Amount of ITC payable and paid (based on table 5)
7) Verification
