Gst input - between two financial years

This query is : Resolved

Abdul Rahim (Querist)
Follow

14 June 2018 Sir,

Can i claim the GST Input on bill of previous financial year ie month February 2018 (not taken in return of February) for the Payment of April 2018.
in other words, can i claim input of one financial year which not taken in that year, in next financial year?

CA Ankit R Momaya

CA Ankit R Momaya (Expert)
Follow

14 June 2018 Yes, you can take ITC in next financial Year till Sept or before filing of Annual Return whichever is earlier

Message likes : 1 times

Abdul Rahim

Abdul Rahim (Querist)
Follow

14 June 2018 thanks for your reply..so i need to show it as asset (Input) receivable in audited balancesheet only.? & can take it to setoff nxt years liablilty without showing in returns of 2017-18 F.Y.

CA Ankit R Momaya

CA Ankit R Momaya (Expert)
Follow

14 June 2018 Yes, it will shown as an Asset....

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

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok