GST Class – to be entered for all vouchers so as to correctly map data for GST Returns ( As per GSTR 3B, GSTR-2 etc.)

Compulsory requirement to enter

Different categories of ITC

NOT FOR GST PURPOSES -00 For specifying all kind of entries which are not falling under the purview of GST/ no impact on GST Returns. Example- Salary payments, depreciation etc.

GST ICT Allowed ( Goods) -01 For availing ITC ( Input Credit) on any kind of goods Purchased Example–RM, Consumables etc

GST ICT Allowed ( Service ) -02 For availing ITC ( Input Credit) on any kind of services availed Example- Job Work charges, Consultancy etc.

GST NIL Rated-03 For flagging ITC ( Input Credit) on any kind of goods/ services Purchased for which government has specified NIL RATE GST. Example- Only SEZ Purchase

GST Exempted 04 For flagging ITC ( Input Credit) on any kind of goods/ services Purchased which government has specified as EXEMPTED. Example- Milk / Flower / Etc.

GST ITC Ineligible 17(5) -05 For flagging ITC ( Input Credit) on any kind of goods/ services Purchased for which government has specified credit as ineligible under section 17(5). Example- Buying Car/ Conveyance ( OLA Cab ), Food expenses

GST ITC Allowed ( Capital Goods) - 06 For flagging ITC ( Input Credit) on any kind of Capital goods Purchased. Example- Plant & machinery.

GST ITC Not Allowed (NON GST) -07 For flagging ITC ( Input Credit) on any kind of goods Purchased which government has specified as NON GST. Example- Petrol / Diesel/ Liquor for human cosumption.

GST ITC Ineligible Other -08 For flagging ITC ( Input Credit) on any kind of Purchase which is ineligible and Not covered in any clause of 17(5) to be selected under this category.

For any other details or clarification regarding classifications etc For any other details or clarification regarding classifications etc. Contact your tax consultant