GST in excess of 5%
This query is : Resolved
Quick Summary
CA Parul Saxena
(Querist)
16 January 2021
Practical problem is Nov invoices reflected in Nov 2A but our co recorded it on 1st and 2nd Dec while actual material received.
So while claiming input in Dec 2020 the limit of 5% gets exceeded...what to do?
In short problem is input appeared in Nov but we are claiming it in Dec is there any issue?
So while claiming input in Dec 2020 the limit of 5% gets exceeded...what to do?
In short problem is input appeared in Nov but we are claiming it in Dec is there any issue?
CA R SEETHARAMAN
(Expert)
16 January 2021
No issue you can claim it in December.
CA Parul Saxena
(Querist)
16 January 2021
But return tabs are getting red with a message that you are exceeding limit of rule 36(4)..
CA R SEETHARAMAN
(Expert)
16 January 2021
Actually you are not exceeding. You are availing only the last month unavailed. Ignore the warning.
Lekhraj sood
(Expert)
17 January 2021
You have to do month on month reconciliation (cumulative) of ITC as per books and as per 2A/2B.
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