ITCCREDIT

This query is : Resolved

MAKARAND DAMLE (Querist)
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26 July 2021 INVOICE OF SUPPLIER DOES NOT REFLECT GSTIN NUMBER. BILLS OF SUPPLIER HAVE BEEN PAID IN FULL INCLUDING GST. IN SUCH A CASE WHETHER ITC CREDIT TAKEN BY RECIPIENT NEEDS TO BE REVERSED ?

CMA Poornima Madhava

CMA Poornima Madhava (Expert)
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26 July 2021 Except under rule 36(4) regarding capping of ITC up to 105% of ITC as per gstr2b, ITC cannot be availed in this case.
Further, the Supplier is required to revise the invoice to include gstin of the recipient in order for the recipient to claim ITC.

MAKARAND DAMLE

MAKARAND DAMLE (Querist)
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26 July 2021 This is of F Y 17-18

CA Altamush Zafar

CA Altamush Zafar (Expert)
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26 July 2021 If the supplier has not shown invoice in b2b it cannot be rectified now.

Aashok Kumar Sharma

Aashok Kumar Sharma (Expert)
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26 September 2021 For 2017-18 we can not do anything...If ITC was claimed its better to pay on voluntary basis with interest.

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