Menu
Can I claim gst input tax before goods receiving
A company have issued bill in 31st March 2021. but we received goods in 1st May 2021 . then when should I calim gst input tax credit in March or in may.
Replies (8)
Quick Summary
In may 2021
As per law, one of the condition to avail ITC is when you recieve goods or services.
since you have not recieved goods yet, you cannot avail ITC on the same.
Also, please ensure e-way bill and e-invoice provisions as well
since you have not recieved goods yet, you cannot avail ITC on the same.
Also, please ensure e-way bill and e-invoice provisions as well
Then what about 2b or 2a law for input mismatch when I will not take input as per 2b
U can not claim itc till u actually get the goods. even if u claim itc in may 2021 it will not be taken as mismatch. only misnatch will b in may 2021 which u can easily justify.
Claim ITC in May since you have received goods in May.
As for the mismatch, let it happen. Prepare proper reconciliations for future reference.
Tq for you all for your valuable suggestions
Once goods sold and tax invoice and also E-way raised, and payment made, goods belongs to the recipient. why we should not claim itc in the month of April, when we have all the valid documents?
The question of valid docs arises only when u actually recv the goods. until u physically receive the goods, ITC not allowed. u can check GST manuals / e-books.
Recent Topics :
- Itr 4 problem
- Capital Gains Mismatch Due to Sale Agreement in FY
- REGARDING NRO INVESTMENT IN SHARES OF DOMESTIC COM
- DTAA benefits
- SUPPLEMENTARY AGREEMENT FOR ADDING A PARTER IN TN
- Part availmement of ITC in case of rejection of su
- Due date for itr 5 no audit with loss for fy 25 26
- Capital Gains Mismatch AIS
- Inward E-way bill from Tally Prime 7.1
- Query regarding exemption under Section 10(10AA) &
Related Topics :
CAclubindia
