Menu
credit of tax
suppose i am supplier and i am supplying goods on 28th june 2017 and recipient receives the goods on 5th july so how can the tax credit can be taken and how my outwards and recipient inward will going to match
Replies (8)
What is your date of invoice and the date in which you received payment for those goods??
my date of invoice is 28th june itself
the goods has been received by recipient on 5th july payment has been made on 5th july
As per Section 12 of CGST Act 2017 time of supply of goods is earlier of the following
a) Date of invoice issued by the supplier or the last day on which he is required to do so under section 31(1) or
b) date of receipt of payment
Hence in your case 28 th June or 5 th July whichever is earlier. So 28th June.
but credit is available on the same or not? n what will be the treatment
Credit would be available subject to matching of invoices. The supplier making the outwars supply would show it in his details of outward supplies in GSTR-1 and the recipient would show supplies received in Form GSTR-2 and once details match credit would be available.
but how it will going to match because the supplier will show it in outwards of june n reciepient will show the same in inwards of july so how it will be matched
Read Point of supply rule carefully. It is same for both. Why would they show it in different months??
Recent Topics :
- TDS ON IMMOVABLE PROPERTY - PURCHASE FROM NRI &
- Query to Tax Garden tax consultant
- Subject: Urgent Assistance Required – TRACES
- Claiming business re-imbursements while filing GST
- E-waybill 14 Digit Numbring
- Non filing of MGT-14 for MD appointment
- HUF AFFIDAVIT vs HUF DEED - REQUIREMENTS & STA
- Free Pre-Filing Tool to Match GSTR-3B vs GSTR-2B (
- MR AASHOK KUMAR SHARMA
- NIC codes for FIRMS registration of entity
Related Topics :
CAclubindia
