Purchase bill entry date
This query is : Resolved
22 February 2022
Dear All,
We are an LLP organisation. I have received a purchase bill of December 2021 month in the month of February, 2022. The bill date is 20/12/2021 and received for entry on 22/02/2022. My question is what date should i consider the purchase bill for i.e should i entry in the month of December, 2021 as on 20/12/2021, or can i enter in the current month i.e in the month of February, 22/02/2022.
As far as my knowledge is concern, i can enter it in the month of December, 2021 as i can claim the ITC till the filling of Annual return for Financial Year 2021-22.
Please clarify,
Thanking you.
We are an LLP organisation. I have received a purchase bill of December 2021 month in the month of February, 2022. The bill date is 20/12/2021 and received for entry on 22/02/2022. My question is what date should i consider the purchase bill for i.e should i entry in the month of December, 2021 as on 20/12/2021, or can i enter in the current month i.e in the month of February, 22/02/2022.
As far as my knowledge is concern, i can enter it in the month of December, 2021 as i can claim the ITC till the filling of Annual return for Financial Year 2021-22.
Please clarify,
Thanking you.
22 February 2022
Account it in December month if goods received in December.
22 February 2022
Sir, if goods are not received in December month but in February month, then what will be the month to account it. Does the accounting depend on the receipt of goods. Then what is the point that we can take the ITC credit till the Annual return filling. I think that it should not make a difference, whether i account the invoice in the month of december 2021 or in month of february, 2022, as i am accounting it in the same financial year i.e 2021-22. Please provide me the web link if there is clarification for the same. Please answer.
Thanking you.
Thanking you.
22 February 2022
Yes, accounting required receipt of goods then only it can be taken to stock. Take ITC in the month of receipt of goods that one of the condition to take ITC.
23 February 2022
Thank you sir for your kind response.
23 February 2022
You are welcome.......
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- CG Tax On residential property
- Post Office RD Interest
- Applicable TDS for Purchase of Flat from NRI
- Building and other construction workers welfare cess act 1996
- Eway bill for machinery reparing
- Bank Accounts in Balance Sheet for ITR 3
- ITR 3 FILING OF AN INDIVIDUAL (PARTNER IN A PARTNERSHIP fIRM)
- Gift of mutual fund units to daughter
- Form 10BD Filling
- Annual return of gst limit
- Which ITR To be filed by dentist
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
