Gst entry to be rectify
This query is : Resolved
05 January 2018
Dear experts,
we are issued a tax invoice on 3rd Oct, 2017 for FY 2016-17 Accounting working. Accounting fee - 60,000/- & CGST& SGST - 10800/- are the breakup of tax invoice. I passed entry for tax invoice on 31st march, 2017 as below as my principal said,
Accounting Fee A/c Dr 70,800 (Includes GST)
To MAK A/c (My office) 70,800
Now Problem is, How to pass entry to utilise the ITC from the above tax invoice because we already filed clinet Oct month GST return by utilisation of ITC from above tax invoice for accounting work. and how to keep same 70800 outstanding due even after pass rectified entry for the above entry.
we are issued a tax invoice on 3rd Oct, 2017 for FY 2016-17 Accounting working. Accounting fee - 60,000/- & CGST& SGST - 10800/- are the breakup of tax invoice. I passed entry for tax invoice on 31st march, 2017 as below as my principal said,
Accounting Fee A/c Dr 70,800 (Includes GST)
To MAK A/c (My office) 70,800
Now Problem is, How to pass entry to utilise the ITC from the above tax invoice because we already filed clinet Oct month GST return by utilisation of ITC from above tax invoice for accounting work. and how to keep same 70800 outstanding due even after pass rectified entry for the above entry.
05 January 2018
Yes but invoices raised on 3rd OCt 2017 So GSt will come instead of ST.
05 January 2018
Yes... I understand the invoice date. But, you are enter the details with "GST" on 31st March 2017 is not possible...
05 January 2018
Time limit for ITC claim under GST :
If invoice or debit note is received after:
the due date of filing return for September of next financial year
or
filing annual return
(whichever is later
No ITC will be allowed)
05 January 2018
Sir, Invoices are received and ITC is claimed before Due date. for claiming ITC in GST, separate entry shall be pass for Input GST but FY 2017-18 dated tax invoices for FY 2016-17 work booked in FY 2016-17 as Audit fee includes GST. So no separate entry passed for GST. Now i have to pass entry to seprate GST from audit fee to claim ITC (Return already passed).
05 January 2018
Sir, Invoices are received and ITC is claimed before Due date. for claiming ITC in GST, separate entry shall be pass for Input GST but FY 2017-18 dated tax invoices for FY 2016-17 work booked in FY 2016-17 as Audit fee includes GST. So no separate entry passed for GST. Now i have to pass entry to seprate GST from audit fee to claim ITC (Return already passed).
Message likes :
1 times
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
- CAPITAL GAIN REDEVELOPED FLAT
- CLOSING STOCK QUERY
- Requirement under FEMA &RBI
- REGARDING ITR FILING QUESTION
- ITC BENEFIT ON BROKRAGE PAID
- TDS refund Indemnity Bond
- DUE DATE FOR ITR FILING
- Query regarding TDS on EPFO Higher Pension Arrears- under wrong section
- GST ISD Query on various AMCs
- Technical Glitch in ITR-4 Online Form (AY 2026-27): Sec 44AE Partner Remuneration not mapping to E8
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
- Query regarding reporting of exempt foreign remuneration in ITR (AY 2026-27)
- FEMA/RBI treatment — Amazon.ca arbitrage (US buy, Canada sell, goods never enter India)
- Goods return by customer
- INWARD REMITTANCE FOREIGN
- CPC and SAC
- Account freezed for Ineligible ITC Scrutiny for GST Annual Return
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
