GST accumulated credit FY 2019-20
This query is : Resolved
10 November 2020
Experts
we have accumulated input pertaining to FY 2019-20 as on 30th Sep 2020
we are the traders and due to no sales from April 2020 to Sept 2020, ITC remains available
whether this ITC to be adjusted for October 2020 sales liability
or THIS ITC is lapsed
Experts please give your opinion
we have accumulated input pertaining to FY 2019-20 as on 30th Sep 2020
we are the traders and due to no sales from April 2020 to Sept 2020, ITC remains available
whether this ITC to be adjusted for October 2020 sales liability
or THIS ITC is lapsed
Experts please give your opinion
10 November 2020
You can very much utilise it for October and future months.ITC will not elapse in this manner.
11 November 2020
Respected Mr.Lekhraj sood, well and thanks for your reply .But pleased to refer section 16(4) of GST which states time limit for availing Input credit which has been reflected in credit ledger. Whether section 16(2) override section 16(4)
Experts kindly clarify this issue . Section 16(4) time limit only for the claim of input or its usage
Experts kindly clarify this issue . Section 16(4) time limit only for the claim of input or its usage
11 November 2020
Section 16(4) is time limit is only for taking ITC and not for the utilisation of accumulated ITC which is already claimed in GSTR3B.
11 November 2020
Respected Sir well and thanks for your reply , thanks again
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Off Market debit and credit transaction
- Showing Gift from relative in ITR for this year
- Short Term Capital gain on shares bought and sold after 2018 onwards
- Share accounting-->fifo - capital gain - period as per fifo?
- ITR selection for salaries and capital gain less than L
- ITR filing- non tax audit cases- Asstt.Year 2026-2027
- Treatment of Pension ?annuity returns on PMVY
- Soyabean hsn code and gst rate
- Regarding IMS Mandatory from 1st July 2026
- GSTR-4 Annual Return ! Pending Returns for F.Y. 20-21 to 22-23
- TDS on payment to CHA as per new section
- Sale of Forign Shares
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
