20% ITC Rules

as per new rules 36/4, if supply file GSTR 1 Quarterly return Q-3 in January 2020 on time, can I take ITC for the month of OCTOBER right on in GSTR 3B OCTOBER 2019?
Replies (9)
Yes... You can take ITC in October-19 if Invoice date is October-19...
No ...you cannot .
The ITC available to Recepient if it's reflected in his 2A
No... it's difficult if Supliers filing quarterly based. Buyer can consider Monthly / Quarterly / Early basis.
According to the current provision.... He cannot....... No explanation have been issued by the CBIC on the issue of quarterly filing of returns by the taxpayers.....
Yes... No Explanation & Clarification about the same as Quarterly, Yearly also monthly based...

in case dept will take then consider with yearly based calculation...
Can take full invoice ITC for October 2019 ?
Yes... You can.
But, Better to follow filing by Your supplier...
Dear Raja Ji

The circular 123/42/2019 specifically restricts in availment of input
tax credit (ITC) in respect of invoices or debit notes, the details of which have not been
uploaded by the suppliers under sub-section (1) of section 37 Of CGST Act .
And As per Section 37(1) of CGST Act it's regular taxpayer whether filing outward supply Qtly or Monthly , both cover under it.

So it's being applicable in both .,
Yes... The circular says 37(1).

But,
What about Quarterly returns under same sec...?
"Both cover under it" -> Yes... both cove under it then we can avail ITC monthly basis and it will check out quarterly. Nothing much problems...

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