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eligibilty of ITC

ITC / Input 170 views 10 replies
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802 Points Posted on 14 June 2018
if tax invoice issued on 31st May but Goods is Received 3rd June in this I will take ITC in May or June ???
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On 14 June 2018 at 17:55 Report
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"Do the Right Thing...!!!"
128147 Points Posted on 14 June 2018
Only On June...
Not available on May...
463 Reply
On 14 June 2018 at 18:07
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802 Points Posted on 14 June 2018
but my supplier Show in May month???so how to match of This UTC??
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On 14 June 2018 at 18:11
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"Do the Right Thing...!!!"
128147 Points Posted on 14 June 2018
It's supplier duty for outward supplies in the month's return...
But,
Buyer will avail the ITC after received the goods at the time of receiving month...
463 Reply
On 14 June 2018 at 18:13
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802 Points Posted on 14 June 2018
when we accept that invoice will be in May of the GSTR 2 of the supplier so can I accept it may month of GSTR 2
3 Reply
On 14 June 2018 at 18:15
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"Do the Right Thing...!!!"
128147 Points Posted on 14 June 2018
In case it's in GSTR 2 then You keep the invoice as "PENDING" and it's reflect Your next GSTR 2 return (June).

You can avail the ITC in June...



If You received the goods in July then You can avail the ITC on July return. Also You ll keep the invoice as pending in Your GSTR 2 for the month of May and June... 😊
463 Reply
On 14 June 2018 at 18:19
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802 Points Posted on 14 June 2018
If we invoice freez pending So Involve Date is in Month of May ......Date is kot reflected in June???
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On 14 June 2018 at 18:34
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"Do the Right Thing...!!!"
128147 Points Posted on 14 June 2018
Originally posted by : Faheem Akram
If we invoice freez pending So Involve Date is in Month of May ......Date is kot reflected in June???

 

Yes... Definitly yessmiley

463 Reply
On 14 June 2018 at 19:45
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802 Points Posted on 15 June 2018
if we keep the invoice as "pending" so same invoice will get in June Month for accepting ???
3 Reply
On 15 June 2018 at 13:52
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GST Practitioner & Accounts
15085 Points Posted on 15 June 2018

As per section 16 (2)  of the CGSt act 2017 you fulfil following conditions for ITC 

1) you must have  valid  Invoice no with GSTN no .

2) you must  receive  goods / service 

3)  supplier must pay collected  tax  form customer   to the GOVT 

4) Supplier  must file retrun 

 

   

24 Reply
On 15 June 2018 at 14:15
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"Do the Right Thing...!!!"
128147 Points Posted on 15 June 2018
@ Faheem Akram.,
Yes... You can take ITC for next which You left as Pending...
Also the same way time limit of ITC will be applicable...
***No more restriction...
463 Reply
On 15 June 2018 at 14:18


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