Gst input credit

ITC / Input 281 views 4 replies

vishal

Accounts

35 Points Posted on 21 August 2017

Hi,

I have a Proprietorship business with GST registeration number.

I purchase grocery from super markets, frequent restaurants etc for which i have to pay GST as per prevailing %. . The amounts may look small but add up to a significant number cumulatively.

My question is can i claim the GST paid as input to offset the GST payable; despite none of the above vendors have my GST registeration and i have only invoices as a supporting proof.

If so; then what is the process for claiming the input GST & necessary compliances to be followed?

If not; then what are different alternatives to claim the GST pain on the purchases?

Thanks

Replies (4)

RAMESH D MODI

Proprietor

4869 Points Posted on 21 August 2017

to claim itc u must remember that if your supplier upload the invoice details in his return gstr 1 then only you can get those itc otherwise not.

RAMESH D MODI

Proprietor

4869 Points Posted on 21 August 2017

your claim of itc is depend upon your supplier's compliance.

RAJA P M

"Do the Right Thing...!!!"

128152 Points Posted on 21 August 2017

@ Vishal.,

What is (Your) the Nature of business for the above said Register person...?

What are the uses of the GROCERY....?

vishal

Accounts

35 Points Posted on 22 August 2017

Hi Ramesh & Raja,

Thanks for your reply.

I run a recruitment consultancy in Mumbai.

I assume that since its a proprietory firm; there is no distinction between individual and firm and hence i can claim input credit for goods used for my personal / official consumption. Correct me if i am wrong.

These goods are brought from reputed brands which are GST compliant ; however there is no input credit is made against my specific GST number . However; i do have invoices / bills with their GST details.

So; please let know what would be the step ahead.

Another query: We often have credit periods of 1~3 months; post which client makes payment.

For example: invoice dated 16th August 2017 becomes due in 15th October 2017. In this case; does the GST become payable in August or October?