ITC Claim

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This discussion clarifies how to handle Input Tax Credit (ITC) claims when your company's records show a higher ITC amount than what appears in GSTR2A. Experts advise that you can claim up to 110% of the GSTR2A amount, with a consolidated view applicable from February to August 2020. If you can confirm that your suppliers will file missing invoices by August, you may be able to claim the full ITC shown in your books.

Kantilal

Kantilal (Querist)
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20 July 2020 I have query related ITC Claim
suppose in June as per our books ITC is Rs. 120/- but in GSTR2A shows only Rs. 100/-, so we claim entire Rs. 120/- or we have to claim only Rs. 100/- shown in GSTR2A?

Please guide experts

CA Altamush Zafar

CA Altamush Zafar (Expert)
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20 July 2020 You can claim upto 110. However as per notification such restriction will be seen consolidatedly from Feb 2020 to August 2020. So if you can ensure that your supplier will file missing invoices till August you can claim full 120 as itc

Kantilal

Kantilal (Querist)
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20 July 2020 Thank you sir ..... means GSTR2A shows Rs. 100/- + 10/- (10% Rs. 100/-) is it right?

CA Altamush Zafar

CA Altamush Zafar (Expert)
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20 July 2020 Yes. But as said earlier you can also take full itc as per books provided such supplies is uploaded till August

Kantilal

Kantilal (Querist)
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20 July 2020 ok ...... Thank you sir

CA Altamush Zafar

CA Altamush Zafar (Expert)
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20 July 2020 You are welcome.......