Gst input credit claim,
This query is : Resolved
30 October 2018
Our Company Purchases an Asset value Rs.7.43 crore(Base Value: Rs. 6.30crore and IGST: Rs. 1.13crore). but we paid 1.20crore recently and balance will be paid as part payments over 60 months.(Invoice received and Asset also installed at out factory)
Now the Supplier of Asset has entered the sale details in his GSTR1 but he hasn't filed submitted GSTR1.
The transaction is showing our GSTR1A , but cant accept it because Supplier hasn't submitted. GSTR1.
My query is can we avail the credit . If yes can we avail whole amount in the current month.
Now the Supplier of Asset has entered the sale details in his GSTR1 but he hasn't filed submitted GSTR1.
The transaction is showing our GSTR1A , but cant accept it because Supplier hasn't submitted. GSTR1.
My query is can we avail the credit . If yes can we avail whole amount in the current month.
30 October 2018
Ok here if we take ITC also , then again in future we need to reverse the ITC and add to output liability along with Interest. After payment in future we can claim ITC but Interest paid is a loss.
Ok we will not claim ITC now, then how to approach in this case, as the Invoice is reflecting in GSTR2A
Ok we will not claim ITC now, then how to approach in this case, as the Invoice is reflecting in GSTR2A
30 October 2018
Claim ITC and ask your supplier to file return otherwise you will have to reverse the credit taken.
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
- Difference between Date of Payment and Date of Deduction?
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- GST Rate for Catering Services
- ADDITION OF CHALLAN IN TDS RETURN FORM 140
- Journal entry of busniess expenses
- TDS AND ITR ISSUE
- Same demand raised for original as well as rectification request return
- Sale of property held jointly with a non resident Indian
- FCRA 6 E- Intimation
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
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
