05 August 2022
Sir My brother is a proprietor of the Firm(Shop)(Registered in GST) and purchase on one Air Condition for the use of shop and one Air Condition AND TV for use of House . The seller issued bill in the name of Firm ( Shop). Please advise he can claim Input Tax on purchase of above Items. D.P.Kapoor 9810600330
09 August 2022
All regular taxpayers must report the amount of input tax credit(ITC) in their monthly GST returns of Form GSTR-3B. The table 4 requires the summary figure of eligible ITC, Ineligible ITC and ITC reversed during the tax period. A taxpayer can claim ITC on a provisional basis in the GSTR-3B to an extent of 20% of the eligible ITC reported by suppliers in the auto-generated GSTR-2A return. Hence, a taxpayer should cross-check the GSTR-2A figure before proceeding to file GSTR-3B.
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