GST Input query 20% capping
This query is : Open
12 December 2019
IGST of Rs.3780 was reflected in Sep 2A. But we have recorded in Books Nov 19 so when to claim such input as IGST reflected in 2A for the month of nov is NIL.
12 December 2019
Since you did'nt take ITC for amount reflecting in Sep 2019 and is pending . You can avail in Nov 2019
12 December 2019
The cap of 20% is applicable only to the ITC which have not been uploaded by the supplier/s. Since, in this case, credit has already been uploaded, you can avail the credit in Nov 2019
12 December 2019
Yes... I agreed to above said replies from experts... The 20% capping provision applicable from 9th oct-19 Bills and inputs only. Not applicable to previous transactions. You can avail ITC for the September ITCs.
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
- Showing Gift from relative in ITR for this year
- ITR selection for salaries and capital gain less than L
- Share accounting-->fifo - capital gain - period as per fifo?
- ITR filing- non tax audit cases- Asstt.Year 2026-2027
- Soyabean hsn code and gst rate
- Treatment of Pension ?annuity returns on PMVY
- Regarding IMS Mandatory from 1st July 2026
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- What is provisional receipt number for generation of form 16A
- Salary and pension received from Asian Development Bank
- 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
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
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
