Itc credit

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A user is concerned about an Input Tax Credit (ITC) discrepancy where they claimed credit in their March 2018 GSTR-3B, but their supplier's GSTR-1 shows the invoice in April 2019. They are asking if this impacts their ITC and if a reversal is necessary. The advice given is that no reversal is currently needed, and a link is provided regarding the time limit for availing ITC for FY 2017-18.

Bhavnesh Dhirajlal Parikh

Bhavnesh Dhirajlal Parikh (Querist)

20 June 2020 Dear all
My question bill date 24/3/18 i have tack credit march 18 gstr3b but suplier showing that 1/4/2019 gstr 1
What is effect of itc ?
Can i reverse itc?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

20 June 2020 At this point of time no need for any reversal.

Bhavnesh Dhirajlal Parikh

Bhavnesh Dhirajlal Parikh (Querist)

21 June 2020 Dear Sir
Any issue of Itc because i have already tack credit but supplier did not showing GSTR1 it is showing GSTR 1 in Apr -19 invoice

Murtaza I Bhagat

Murtaza I Bhagat (Expert)

21 June 2020 Plz check this article on

Time limit for availing ITC for F.Y. 2017-18 - Last date of filing annual return

https://www.taxmanagementindia.com/visitor/detail_article.asp?ArticleID=8606

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