ITC AGAIN CLAIMED
This query is : Resolved
03 December 2021
Dear Sir,
We has claimed itc in GSTR 3B in F/y 2019-20 but not in books. Now in current year we have passed the entry in books by Debiting ITC claimed ledger and crediting capital account and claimed ITC in books. We are covered under tax audit. My Query
1. Can we do this
2. Will it not be treated as income as the expenses was earlier debited in books including GST in it.
We has claimed itc in GSTR 3B in F/y 2019-20 but not in books. Now in current year we have passed the entry in books by Debiting ITC claimed ledger and crediting capital account and claimed ITC in books. We are covered under tax audit. My Query
1. Can we do this
2. Will it not be treated as income as the expenses was earlier debited in books including GST in it.
03 December 2021
1 No.
2 Credit profit and loss account treat it as income.
2 Credit profit and loss account treat it as income.
03 December 2021
Your query is not clear as to how the GST was expensed when it was claimed.
But for sure you cannot claim ITC twice on the same inward supply
But for sure you cannot claim ITC twice on the same inward supply
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