Restriction Claiming ITC U/s 36 (4)
This query is : Resolved
02 September 2020
what is percentage to claim U/s 36 (4) to claim input .please explain in brief.
02 September 2020
Example-
ITC availed by you in a month is of 50 invoices amount of ITC Rs. 5,00,000/-
Invoices appearing in GSTR2A - 45 invoices involving ITC of 4,50,000/-
Invoices not appearing in GSTR2A- 5 invoices involving ITC of Rs. 50,000/-
ITC claimable as per rule 36(4) will be = 4,50,000+10% of 4,50,000 = 4,95,000/-
Hope to have clarified.
ITC availed by you in a month is of 50 invoices amount of ITC Rs. 5,00,000/-
Invoices appearing in GSTR2A - 45 invoices involving ITC of 4,50,000/-
Invoices not appearing in GSTR2A- 5 invoices involving ITC of Rs. 50,000/-
ITC claimable as per rule 36(4) will be = 4,50,000+10% of 4,50,000 = 4,95,000/-
Hope to have clarified.
02 September 2020
But sir while claiming i have to ignored input displayed under section 17(5) please reply .
02 September 2020
Ofcourse.We are only talking of eligible credit
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
- Supply through E-commerce Operators
- Rent lease agreement
- Relief u/s Section 89
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- Sales return eway bill
- REGARDING GST LIABILITY/....
- Is E Way Bill Valid If Transport ID Not Mentioned in PART A But Vehicle details mentioned in PART B
- STCG on ETF gold & silver
- If there is Long term capital gain exists how much total income to be considered
- Is it compulsory to File 10E if Income including Pension Arrears is below 12 Lakh for the F Y 25 26
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- STCG....................................................
- Sales amount in Gstr1
- CG after sale of flat
- 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
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
