ITC
This query is : Resolved
11 August 2020
In case GST credit for the period FY 17-18 was not taken in books or GSTR-3B or Annual return (nor shown as ITC on inward supplies received during 2017-18 but availed during April to September, 2018) and the same is taken in FY 18-19 but expense pertaining to the same is considered in FY 17-18.
For Eg:
FY 17-18: Exp. A/c Dr. 118 (Including GST of Rs.18) To Party A/c Cr. 118
FY 18-19 (Sept 18): GST A/c Dr. 18 To Exp. A/c Cr. 18
What is the treatment of such ITC in GSTR9/9C?
For Eg:
FY 17-18: Exp. A/c Dr. 118 (Including GST of Rs.18) To Party A/c Cr. 118
FY 18-19 (Sept 18): GST A/c Dr. 18 To Exp. A/c Cr. 18
What is the treatment of such ITC in GSTR9/9C?
12 August 2020
You were to show this in table 8C of GSTR9 of 2017-18.
12 August 2020
Sir, what is the treatment in FY 18-19 since it was not shown in FY 17-18 GSTR-9
13 August 2020
You can show it under current year ITC in 2018-19 annual return. Legally the availment of ITC is correct . However,there is wrong reporting in the 2017-18 return.At the most there can be some penalty -depends on the amount involved as well.
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
- Credit rating model
- 115-BAC-for AOP-private discretionary trust
- Youtube income
- Insurance make against any item and later get insurance claim received
- IN PAGHDI SYSTERM . RENT RECPT CHANGE OF NAME AFTER FAMILY PARENTS TO SON
- Cgst asmt - 10
- If Material shift from dry port local egm details not refleting on ICE gate portal
- CAN a GSTIN registered under rule 14A opt for composition scheme without withdrawal from rule 14A ??
- E-Invoice applicability related question
- Surcharge applicability on LTCG loss
- Query regarding applicability of UDIN on MCA forms signed using DSC by a Chartered Accountant
- GST ON PERSONAL MOTORCAR SOLD
- Cash gift by grand mother to her grand daughter
- APPLICABILITY OF RCM ON MAN POWER SUPPLY BY UN REGISTERED PERSON TO REGISTERED PERSON.
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Spice form, ? mark comes in address
- Tds on GST in connection with sale to public company
- B2B Amendment
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
