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GST input tax credit query

Rulzp (Student CA IPC / IPCC) (21 Points)

04 February 2020

I have a query in GST I have incorporated my company on 1st Oct 2019 and taken GST registration on 2nd Feb 2020 in this between period I have purchased goods and taken service for which I have paid GST since I was not registered I was unable to take ITC can I claim the same ITC after my registration if yes how to claim since all respective period returns must have been uploaded by the seller

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11 Replies

prasad Nilugal ( GST Practitioner & Accounts ) (14165 Points)
Replied 04 February 2020

When you applied for GST Registration ?.

(Guest)

Yes, you can claim tax credit of stock lying. Supplier return is not relevant. CA certification is required.

Read in full: https://bit.ly/394HxKz

1 Like

pankaj (CA) (53 Points)
Replied 04 February 2020

You cant take credit unless you have the bill on which ur gst no has been mentioned.
If ur seller revise ur bill and return by putting ur gst no only than u can take credit otherwise it will be cost of ur product.
For further u can contact me CA PANKAJ KUMAR at 9953194281

vasu vasu (5 Points)
Replied 04 February 2020

Hi friends

in the month of October I missed some itc Bill
Can I claim the ITC in the month of November???
please suggest me

pankaj (CA) (53 Points)
Replied 04 February 2020

Yes we can take input

Roshni (Studwnt) (1141 Points)
Replied 04 February 2020

Depends on case to case was it a voluntary registration? or your turnover exceeded the limit

Sivaramaraju G (Learner) (2398 Points)
Replied 04 February 2020

@ vasu you can take credit

sagar tatti (75 Points)
Replied 04 February 2020

If I File FORM ITC-01 of amount 150000/-.
my doubt is :-
a. is it's reflect my ITC amount in GSTR2?.
b. how can i utilize ITC amount in GSTR3B?.
C. if it's reflect in GSTR2, how my supplier will file GSTR1 as B2C. how I take ITC

PLZ guide me 🙏..

RAJA P M ("Do the Right Thing...!!!") (127142 Points)
Replied 04 February 2020

@ Mr Rulzp.,

You can file ITC-01 form and claim such Input Credit through the same.

No need to worry...

@ Mr Vasu Vasu.,

Yes... You can claim ITC for the missed bills.

Pankaj Rawat (GST Practitioner) (55032 Points)
Replied 04 February 2020

Dear Rulzp

Pankaj Rawat (GST Practitioner) (55032 Points)
Replied 05 February 2020

Dear Rulzp :

Since you have not mentioned the date of liability to pay tax , hence I assume that you would have applied for registration with in 30Days from the date of liability to obtain Registration.

In term of Section 18(1) read with Rule 40(1) of CGST Act , you can claim ITC on Input held in stock by filing ITC 01 online on portal .

Note : No ITC is available on Input Services & Capital Goods & you are required file ITC 01 within 30days from date of grant of Registration