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GST BENIFIT

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Kanhu charan dssh

Accountant

51 Points Posted on 22 October 2021

If supplier and Receiptent registered in same state .property situated in different state.supplier issued bill to receiptent on advertisement that property.and also charged igst that bill.plz confirm can claim ITC credit.

Replies (2)

Quick Summary

This discussion explores the eligibility for claiming Input Tax Credit (ITC) when a supplier and recipient are registered in the same state, but the property is located in a different state. The supplier issued an advertisement bill charging IGST. The query seeks confirmation on whether ITC can be claimed under these circumstances, considering the rules around payment within 180 days and the availability of credit via GSTR-2B.

debora M

BUSINESS DEVELOPMENT MANAGER

1382 Points Posted on 22 October 2021

To claim ITC, the buyer should pay the supplier for the supplies received (inclusive of tax) within 180 days from the date of issuing the invoice. If the buyer fails to do so, the amount of credit they would have availed, will be added to their output tax liability.

The ITC shall be available as per the invoices uploaded by respective suppliers either in their GSTR-1 or by using the Invoice Furnishing Facility (IFF). 2. The recipients can claim provisional input tax credit in GSTR-3B to the extent of 5% instead of earlier 10% of the total ITC available in GSTR-2B for the month