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
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