Hello,
I've been filing GSTR3B without having look at eligible ITC from GSTR2B.
On comparing I found that I've claimed more ITC than shown in 2B.
However, I've valid invoices based on which I'm filing returns.
I guess I'm not being complaint.
Now what should be done so that everything can be on same page.
with 2B coming into play, ITC reconciliation with acc. software has messed up bcoz we now need to go back to older invoice where ITC is not claimed during filing month but see data in next consecutive return.
Awaiting reply from the community.
Thanks.
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Filing GSTR 3B without considering GSTR2B.
Replies (3)
Quick Summary
You can claim extra if you have valid invoices there is no issue in it. Only thing that you need to check is the extra amount should not be more than 10% of the available ITC
Know more about the 10% ITC Rule
In the case of Assistant Commissioner (CT), presently Thiruverkadu Assessment Circle, Kolathur, Chennai Vs. Infiniti Wholesale Ltd., reported in [2017] 99 VST 341 (Mad), wherein it has held that Input Tax Credit cannot be disallowed on the ground that the seller has not paid tax to the Government, when the purchaser is able to prove that the seller has collected tax and issued invoices to the purchaser.
@ bhavika kothari : I'm not considering 10% ITC rule as well. As a person managing both business and accounting it becomes cumbersome to get hold of each and every rule. however at end of quarter my ITC is almost same as what filed by suppliers and what I report.
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