AVAILMENT OF ITC
This query is : Resolved
23 September 2019
AS PER 37TH GST COUNCIL ANNUAL RETURN FOR F Y 2017-18 & F Y 2018-19 IS NOT MANDATORY. SO WHETHER WE HAVE TO COMPULSORY RECONSILE DATA FOR GSTR 2 & GSTR 2A FOR F Y 2018-19 (T.O UPTO 2 CRORE). FURTHER IF WE HAVE TO DO WHAT IS THE LAST DATE. SEP 2019 WE HAVE TO ADJUST OR WE CAN DO UPTO MARCH 2020. ALSO IF WE HAVE NOT DONE UPTO SEP 19 WE HAVE TO LOSS ITC FOR PREVIOUS PERIOD.
24 September 2019
The annual return for filing for the FY 2017-18 is not necessary for composite dealers. The other dealers whose turnover is less than Rs.2 crores , filing of annual return for the FY 2017-18 is optional.
Reconciliation of GSTR 2 and GSTR 2 A is separate subject. It is to be done as the we have taken GST credit based on supplier invoice and receipt and the supplier is to file the same in their sales rteturn.. It will be auto reflected in GSTR 2A.. If any of invoices has not be uploaded by the supplier , it is to intimated to him and to include in Sep 19 return. Kindly note that if supplier fails to do so, the department sent letter/ notice on any day to you for disallowing GST credit . Hence the reconciliation of GSTR 2 and GSTR2A is to done on monthly basis and discrepant if any to be addressed to the concerned irrespective of filing annual GST return.
The GST act specified that GST credit to be taken before the end of Sep 19 of succeeding financial year or due date of filinf annula GST return which ever is earlier. Hence, GST credit left out if any for the FY 2018-19 is to be taken on or before 30.09.2019 and it will not allowed after that date.
Reconciliation of GSTR 2 and GSTR 2 A is separate subject. It is to be done as the we have taken GST credit based on supplier invoice and receipt and the supplier is to file the same in their sales rteturn.. It will be auto reflected in GSTR 2A.. If any of invoices has not be uploaded by the supplier , it is to intimated to him and to include in Sep 19 return. Kindly note that if supplier fails to do so, the department sent letter/ notice on any day to you for disallowing GST credit . Hence the reconciliation of GSTR 2 and GSTR2A is to done on monthly basis and discrepant if any to be addressed to the concerned irrespective of filing annual GST return.
The GST act specified that GST credit to be taken before the end of Sep 19 of succeeding financial year or due date of filinf annula GST return which ever is earlier. Hence, GST credit left out if any for the FY 2018-19 is to be taken on or before 30.09.2019 and it will not allowed after that date.
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