The Supplier says GSTR1 filing for March 2021 will GET DELAYED (not sure why) and asked me to go ahead and CLAIM 100% INPUT TAX CREDIT on his INVOICE. He says it will get MATCHED when he uploads my invoice and files GSTR1.
As per the new rules I can only claim 105% of ITC available on GSTR2A (which is 2000, so its 2100) whereas the amount of GST as per INVOICE is around 7000.
GST on the above mentioned INVOICE = Rs.7000
Total ITC available on other invoices as per GSTR2A = Rs. 2000 (105% of GSTR2A is 2100)
Instead of Rs.7000 I'll be able to CLAIM only Rs.100.
What about Rs.6900?
Will Rs.7000 appear in the next GSTR2A as and when the SUPPLIER files GSTR1
Can ITC be claimed in the next quarter (Apr-Jun21) considering the supplier would have filed GSTR1 by then.
CAclubindia
