20% ITC Capping Rule (How to know GSTR-1 Filing Date by the Supplier)

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Guest

Hi,

I am confused regarding latest clarification issued by the CBIC regarding claiming ITC against invoices not reflecting or delayed filed GSTR-1 by suppliers.

I just want to know that the clarification says "Suppliers have furnished Form GSTR-1 as on the due date of furnishing of the details of outward supplies". Does it mean, we can't claim the ITC on those invoices for which GSTR-1 is filed after due date? If so, where can be found the date of GSTR-1 filing by the supplier? Auto populated GSTR-2A doesn't have date of return filing.

For example Supplier-A is supposed to file his return by 11th of the succeeding month but it fails to do and files it on 12th of the month.

Regards

Khem Raj

Replies (4)

Anshika Aggarwal

Chartered Accountant

186 Points Joined November 2019

You can not know the date of filing GSTR-1 by supplier. For this you have to ask your supplier

Jishad T

GSTP

289 Points Joined February 2019

in gst portal search tax payer-> show filed table in that table showing last 10 returns filed date

Guest

That's not a right way, I have hundreds of vendors.

Sivaramakumar

GM-ACCOUNTS

142 Points Joined June 2012

As per the latest improvement it is the responsibility of the dealer to claim the eligible input in GSTR 3b subject to the limit of 20% over and above the auto populated Eligible ITC. Not all ITC in GSTR2A is eligible for Utilisation. you have to workout the eligible ITC and reverse the Ineligible and blocked credits reflected in GSTR2A..Do not work out ITC +20% (available in GSTR2A) can be utilised.

If the eligible ITC in hand ( ie invoices received by you and eligible for claim which is not reflected in the GSTR 2A, is greater than the Eligible ITC reflected in GSTR2A,(i.e 120% of eligible ITC) then your utilisation is limited to what is available with you (which ever is less).and you can utilise the balance only in the subsequent months.

Even though the supplier has not filed his GSTR 1 in time belated filing will also be reflected in GSTR2A in the relevant month only. hence you need to check your GSTR-2A even after the due date regularly whether any eligible credit has come in for that particular month.This can also be checked in Electronic credit ledger.

Hope you are cleared