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Rba 08 2025

The Railway Board has issued RBA No. 08/2025 regarding the review of Input Tax Credit (ITC) for March 2025 accounts, emphasizing strict compliance with GST regulations. Zonal Railways and Production Units are instructed to ensure proper accounting of ITC and to consult with GST consultants for accurate financial reporting for the fiscal year 2024-2025. The document stresses the importance of timely corrections and may require offices to remain open during holidays to complete this task.

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71 views2 pages

Rba 08 2025

The Railway Board has issued RBA No. 08/2025 regarding the review of Input Tax Credit (ITC) for March 2025 accounts, emphasizing strict compliance with GST regulations. Zonal Railways and Production Units are instructed to ensure proper accounting of ITC and to consult with GST consultants for accurate financial reporting for the fiscal year 2024-2025. The document stresses the importance of timely corrections and may require offices to remain open during holidays to complete this task.

Uploaded by

vedprakash376
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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2017/AC-II/1/6GSTMAIN/VOL.

IV

I/3121292/2025

भारतसरकार / GOVERNMENT OF INDIA


रे लमंतालय/ MINISTRY OF RAILWAYS
रे लवेबोड/ RAILWAY BOARD

MOST URGENT

RBA No. 08/2025


GST Circular No . 03/2025

No.2017/AC-II/1/6/GST/Main-Vol. IV 27th March, 2025

General Managers,
All Zonal Railway/Production Units

Sub: Review of Input Tax Credit and its Accountal thereof in March’2025 Accounts.
Ref.: GST Accounting Procedure : Input Tax Credit- RBA No. 78/2017 / GST
Circular No. 22 dated 22.06.2017.
-x-x-x-

Railway Board has been issuing instructions to Zonal Railways and Production
Units from time to time relating to strict compliance of GST. It was advised that review of
Input Tax Credit (ITC) should be done diligently and corrections (if required) should be
carried out in ITC Flagging as per GST Rules. Facility is available in IPAS to carry out such
corrections. Further detailed instructions were issued vide RBA No. 78/2017 dated
22.06.2017 bringing out the detailed Accounting entries to be carried out in Accounts,
correctly reflecting the GST paid on Inputs in Final Head of Accounts or in Miscellaneous
Advance Account (in case of T4 or C2 Flags), so that the Accounts reflect true Expenditure
position. RBA No. 78/2017 is a general procedure circular and do not make any distinction
between cash transactions or journalized transactions for debits received by Zonal Railways
through TCs.

Some of the payments to Railway PSUs viz., IRFC, RVNL, IRCON, RITES, etc are
made centrally by PAO/Railway Board on behalf of Zonal Railways. These PSUs submit
their Invoices in respect of Works carried out by them pertaining to Zonal Railways, to
Railway Board. Thereafter Sanction Orders are issued by the concerned nodal Directorate.
PAO/Railway Board makes payments duly carrying out appropriate ITC Flags and passes
on the Debits to Zonal Railways through TCs. It is assumed that due regard to
accounting treatment duly accounting Full ITC or Partial ITC amount are done by
debiting MAR/MAC-GST as the case maybe and not debited to the final head. This
may be reviewed immediately for 2024-2025. It is once again reiterated that proper
accounting as per Railway Board’s instruction is the responsibility of the Zonal
Railways/Production Units.

As laid down in Railway Board's GST Circular No. 13/2018 dated 28 th March,
2018, the entire exercise of the expenditure data in consultation with GST Consultants
engaged by each Zonal Railways/Production Units, for the financial year 2024-2025 and
corresponding passing of necessary accounting entry under Misc. Advance (Capital or
2017/AC-II/1/6GSTMAIN/VOL.IV

I/3121292/2025

Revenue) and final expenditure may be carried out immediately. It may be ensured that
March’2025 Accounts is prepared after this exercise. For this purpose, it may be necessary
to keep the office open during the ensuing holidays. Necessary instructions may be required
to be issued in this regard.

(Basant K. Singh)
PED/Accounts
Railway Board

Copy To:
All PFAs :Zonal Railways/Production Units

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