GST 50% input take or 100%
This query is : Resolved
Quick Summary
11 May 2020
Hi All,
If we received Service Invoice for Rs.10000+18%GST=11800/- but we paid only 50% of amount to Vendor Rs.5900/- then how much GST Input we can take, 50% input or 100% Input GST.
Thanking you
Amruth
If we received Service Invoice for Rs.10000+18%GST=11800/- but we paid only 50% of amount to Vendor Rs.5900/- then how much GST Input we can take, 50% input or 100% Input GST.
Thanking you
Amruth
CA R SEETHARAMAN
(Expert)
11 May 2020
You can take only 50% ITC.
11 May 2020
Sir,
But at the time of Auditing, the auditor may in invoice ITC is 100%
how you take 50% ITC, means we have follow the Invoice ITC but payment to vendor is differnt.
But at the time of Auditing, the auditor may in invoice ITC is 100%
how you take 50% ITC, means we have follow the Invoice ITC but payment to vendor is differnt.
Gokul Sharma
(Expert)
11 May 2020
yes you can take 100% if iTC but you should pay to party within time allowed.
otherwise you should have to reverse the ITC
otherwise you should have to reverse the ITC
PAWAN KUMAR
(Expert)
12 May 2020
Agreed with the views. Itc is taken in full but payment to supplier should with 180 days from date of invoice.
PAWAN KUMAR
(Expert)
12 May 2020
If payment not done within 180 days, reversal will be done of full itc with interest.
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