Input tax credit
This query is : Resolved
12 July 2017
Assume we received services from registered suppliers in july As per GST act supplier has to upload his sales by 10th of next month i.e. 10th August But we want to pay the bill amount in september to the supplier can we avail the ITC for the month of July or not??
pl Explain
Thanks
What is the Accounting entry in Tally at the time of Bill received and Payment made to supplier?
pl Explain
Thanks
What is the Accounting entry in Tally at the time of Bill received and Payment made to supplier?
12 July 2017
Yes, you can avail the credit for July, but if the payment is not made within 180 days then the credit will have to be reversed and claim back in the month when the payment is made.
Message likes :
1 times
12 July 2017
Yes, you can avail the credit for July, but if the payment is not made within 180 days then the credit will have to be reversed and claim back in the month when the payment is made.
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
- TDS 194-T applicability
- GST ITC REVERSE
- Fixe term employment
- Is any professional CA is here please reply
- Section 50-fixed asset-->building ceases to exist
- Withdrawal in cash from partners capital account by partner
- TDS on Complimentary "Desi Ghee and Gold Coin" Provided to KBC Contestants
- Putting a heading on received mail
- RCM ISSUE ON RENT AND TRANSPORTATION CHARGES
- Regarding Applicability of Tax Audit u/s 44AB
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
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
