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Claiming input credit

ca cs akansha juneja (Practising Chrartered Accountant) (66 Points)

18 February 2019

I HAVE REGISTERED A FIRM UNDER GST ON 01/12/2018 WHEREAS I HAVE MADE PAYMENTS TO MANY VENDORS BEFORE REGISTRATION WITH GST. CAN I CLAIM CREDIT OF THE SAME AND IF YES THEN HOW?

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3 Replies

CA.Pankaj Rawat (Chartered Accountant) (1381 Points)
Replied 18 February 2019

No, 1. As per section 16 of CGST act 2018 Input tax credit shall be availed by only registered person on the basis of Invoice of Suppliers of Goods or services. 2.Input tax credit shall be availed by a registered person only if the said document contains details of the amount of tax charged, descripttion of goods or services, total value of supply of goods or services or both, GSTIN of the supplier and recipient and place of supply. Your GSTIN no is not mentioned on the invoice issued by suppliers thats why ITC not available.

Pankaj Rawat (GST Practitioner) (55030 Points)
Replied 18 February 2019

As per Rule 40 CGST Act :

The registered person shall within thirty days from Immediately preceding the date from which he become liable pay tax can availi nput tax credit under sub-section (1) of section 18 shall make a declaration, electronically,
on the Common Portal in FORM GST ITC-01