Input tax credit
This query is : Resolved
CA Sathish Reddy
(Querist)
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?
CA ASHWIN CHOPRA
(Expert)
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.
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CA ASHWIN CHOPRA
(Expert)
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.
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