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Condition to claim ITC

ITC / Input 210 views 4 replies

Rahul Rustagi

Student CA Final

310 Points Posted on 22 May 2019

In order to claim ITC in Service sector, it is stated in the Section 16 that a person claiming ITC has received Services.

My question is that at what point we can say that we have received the services since the issue of invoice doesn't mean that we have received the services.

Thanx.

Replies (4)

Padmanathan Kv

2127 Points Posted on 22 May 2019

You should have actually availed the service to claim ITC on that.

Rahul Rustagi

Student CA Final

310 Points Posted on 22 May 2019

You mean to say for eg I have received invoice for Rental Services for the period June 2018 to May 2019 in single invoice. So, I should book ITC related to period starting from June 2018 to March 2019 for FY 2018-19...
Am i correct sir ??

Rahul Rustagi

Student CA Final

310 Points Posted on 22 May 2019

Padmanathan Kv

2127 Points Posted on 22 May 2019

No you have to claim ITC as per the invoice when in the month actually receive invoice. but the condition stated by you in section 16 says that you should have actually availed the rental services and should not be a mere invoice