Itc credit eligibility
This query is : Resolved
15 September 2018
i have purchase invoice issued on 30-month-year(last day of month) but goods is received in first week of next month.
whether i am eligible to avail the credit of such invoice in the month in which invoice is issued or in next month.
whether i am eligible to avail the credit of such invoice in the month in which invoice is issued or in next month.
Gokul Sharma
(Expert)
15 September 2018
AVAIL itc on the date of invoice.
15 September 2018
sir can you tell about the section or provision etc to support or more clearity
CA Rashmi Gandhi
(Expert)
15 September 2018
As per Sec 16(2) A registered person will be eligible to claim Input Tax Credit (ITC) on fulfilment of the following conditions:
a. Possession of a tax invoice or debit note or other document issued by supplier evidencing payment.
b. Receipt of goods and/or services. It is assumed that goods received by registered person where goods are delivered by supplier to other person on the direction of registered person against a document of transfer of title of goods.
hence you can claim it on receipt
a. Possession of a tax invoice or debit note or other document issued by supplier evidencing payment.
b. Receipt of goods and/or services. It is assumed that goods received by registered person where goods are delivered by supplier to other person on the direction of registered person against a document of transfer of title of goods.
hence you can claim it on receipt
CA Rashmi Gandhi
(Expert)
15 September 2018
As per Sec 16(2) A registered person will be eligible to claim Input Tax Credit (ITC) on fulfilment of the following conditions:
a. Possession of a tax invoice or debit note or other document issued by supplier evidencing payment.
b. Receipt of goods and/or services. It is assumed that goods received by registered person where goods are delivered by supplier to other person on the direction of registered person against a document of transfer of title of goods.
hence you can claim it on receipt
a. Possession of a tax invoice or debit note or other document issued by supplier evidencing payment.
b. Receipt of goods and/or services. It is assumed that goods received by registered person where goods are delivered by supplier to other person on the direction of registered person against a document of transfer of title of goods.
hence you can claim it on receipt
CA Rashmi Gandhi
(Expert)
15 September 2018
As per Sec 16(2) A registered person will be eligible to claim Input Tax Credit (ITC) on fulfilment of the following conditions:
a. Possession of a tax invoice or debit note or other document issued by supplier evidencing payment.
b. Receipt of goods and/or services. It is assumed that goods received by registered person where goods are delivered by supplier to other person on the direction of registered person against a document of transfer of title of goods.
hence you can claim it on receipt
a. Possession of a tax invoice or debit note or other document issued by supplier evidencing payment.
b. Receipt of goods and/or services. It is assumed that goods received by registered person where goods are delivered by supplier to other person on the direction of registered person against a document of transfer of title of goods.
hence you can claim it on receipt
CA Rashmi Gandhi
(Expert)
15 September 2018
As per Sec 16(2) A registered person will be eligible to claim Input Tax Credit (ITC) on fulfilment of the following conditions:
a. Possession of a tax invoice or debit note or other document issued by supplier evidencing payment.
b. Receipt of goods and/or services. It is assumed that goods received by registered person where goods are delivered by supplier to other person on the direction of registered person against a document of transfer of title of goods.
hence you can claim it on receipt
a. Possession of a tax invoice or debit note or other document issued by supplier evidencing payment.
b. Receipt of goods and/or services. It is assumed that goods received by registered person where goods are delivered by supplier to other person on the direction of registered person against a document of transfer of title of goods.
hence you can claim it on receipt
15 September 2018
ITC available based on goods received date. So, You ll take ITC on next month which goods received date...
30 October 2026
Receipt view is correct: ITC is claimed in the month goods are actually received (Sec 16(2)(b)), not the invoice month; under current law the invoice must also appear in your GSTR-2B (Sec 16(2)(aa)), so claim it in the 3B for the month of receipt once it is reflected in 2B.
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