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Clarifications in availing the ITC

Murugesan (Asst. Manager - Finance) (180 Points)

01 November 2017

We have a doubt in Input GST i.e. Shall we avail the Input Tax Credit of GST invoice of Jul-2017 in Aug-2017 & Sep-2017 or we can avail the ITC within the same month only? Pls clarify.

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7 Replies

CA Naveen Chand (Chartered Accountant) (12729 Points)
Replied 01 November 2017

within the same month if you have invoice of JULY month so take input on such invoice in the JULY month

CA Rashmi Gandhi (Chartered Accountant) (86220 Points)
Replied 01 November 2017

You can claim in next months also........

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Mahesh Shaha (303 Points)
Replied 01 November 2017

Upto next GST audit. Which we have to conduct within 6 monthes from the date of year ending. Main condition is the goods should in your possession along with invoice. Material should not be in transit.

Murugesan (Asst. Manager - Finance) (180 Points)
Replied 04 November 2017

In case we have filed the GSTR-2 for Jul-2017 and receiving the July month invoices in Sep-2017 then in what month we have to account the invoice in our books and In what month we have to declare in GSTR-2

CA Rashmi Gandhi (Chartered Accountant) (86220 Points)
Replied 05 November 2017

You have to booked it in Sept...

Keep this invoice pending in GSTR-2 in July & then claim ITC in September month for same...

1 Like

Murugesan (Asst. Manager - Finance) (180 Points)
Replied 05 November 2017

K madam thanks

Mahesh Shaha (303 Points)
Replied 05 November 2017

Have you matched your GSTR2 with GSTR2A? Then you may find which invoices you have received and which is not received. Not received invoices you can accept if you are sure this is your invoices or keep pending till you receive the invoice.