GST Input query 20% capping
This query is : Open
CA Parul Saxena
(Querist)
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.
CA Anita Bhadra
(Expert)
12 December 2019
Since you did'nt take ITC for amount reflecting in Sep 2019 and is pending . You can avail in Nov 2019
CA Suresh Jain
(Expert)
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.
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