Input tax credit
This query is : Resolved
16 February 2016
Can I account current month purchases to next month and claim input credit in that month?
KAVIRAJA ADDANGADI
(Expert)
16 February 2016
you are eligible to take Input Credit , but it is advised to declare Vat Input in same month of Purchase.
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16 February 2016
So, as per you I have to account the purchase in same month(invoice date) and after that I have to revise the vat return of that month right.
Murtaza I Bhagat
(Expert)
16 February 2016
Revised return is good option instead of taking that bill to next month.So revise your return if you have time to revise.
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17 February 2016
But Some Purchase Invoices for the month of June and September filed vat in October are matching with ITC mismatching option in VAT website. How it's possible?
Murtaza I Bhagat
(Expert)
17 February 2016
For June & September you could not revised due to expiry of time to revise but it you have put that bills in october and dept also accepted then it good. but every time it is not advisable.
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