GST Inward credit

ITC / Input 172 views 2 replies

P. T.

82 Points Joined June 2017

we have made adv pymt for online Advt agencies in the of March'18 i.e. FY-17-18 & forgot to book the invoice as well as to claim the credit of GST charged. even the same has been not mentioned in GST return for the month of March.'18

please guide us in this connection, whether we can book the bill in March & get the credit while calculation of GST payable for the month may'18

or what to do to claim the credit of GST paid in the month of March

Replies (2)

prasad Nilugal

GST Practitioner & Accounts

15035 Points Joined March 2014

you can upload Invoice in the month of June 2017 and claim Input Tax Credit as per section section 16 subsection 4 of the CGST act 2017 , subject to payment of tax made by supplier to the GOVT collected form you , and file monthly retrun as per section 16 (2) of the CGST act 2017

please confirm with others also.

CA Shivam Arora

Chartered Accountant

2414 Points Joined November 2016

Yes you can book the bill in March and claim refund in May. Last date for claiming ITC is 20th Oct, 18 or date of filing of Annual return whichever is earlier for F.Y. 2017-18.