Balance ITC

This query is : Resolved

G.VENKATESWARA RAO (Querist)
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01 February 2020 ITC balance in books at the time of year ending, can we claim in next year. How to show in GST returns.

Ca Neha Jain

Ca Neha Jain (Expert)
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01 February 2020 In order to carry forward the input tax credit, you need to meet the following conditions:

The closing balance of input tax credit should reflect in the last return filed by you
This implies that you should be a regular dealer to be eligible to avail the input tax credit in GST.
All the returns to be furnished under earlier law are filed for last 6 months

RAJA P M

RAJA P M (Expert)
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02 February 2020 Yes... You can claim that C/f ITC. It will be C/f in Your books to next year and it will shown Your IT return also.

CA Altamush Zafar

CA Altamush Zafar (Expert)
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02 February 2020 In case your credits relates to FY 2017-18 or 2018-19 then you cannot claim the same now.

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