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Gst itc 10% rule

Rajat aggarwal (student) (36 Points)

19 February 2020

i have igst of 7200 which is not uploaded by supplier as he might be opting for quarter return...and my itc in 2a is something 26000 (c+s) ..now i can. take upto 5200 extra. .then what about remaining figure.

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Deepak Gupta (CA Student) (15922 Points)
Replied 19 February 2020

w.e.f. 01.01.2020, you can claim ITC as follows:

A) Total eligible ITC as per books of accounts

B) Eligible ITC as per GSTR-2A (i.e. the ITC of those invoices which are getting reflected)

C) Provisional Credit: 10% of B (before 01.01.20 20%)

D) Total eligible ITC that can be claimed: B+C

(Note: If, D>A, then C will be reduced to that extent since D cannot exceed A)

You can claim the balance ITC in the succeeding months after the pending invoices start reflecting in your GSTR-2A, as and when filed by your supplier.

https://www.cbic.gov.in/resources//htdocs-cbec/gst/circular-cgst-123_New.pdf