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GST ITC Doubt
what will be the situation if a tax payer couldn't be able to claim itc for invoice pertaining to fy 2017-18 by the month of march 2019?
Replies (7)
He will loose his eligible ITC, actually as per GST rules ITC may be taken with in 1 year or before filing of Annual Return.
this is new tax era, hence, ITC period is extended upto Mar-2019.
The ITC pertaining to 2017-18 ought to have been taken by month of march 2019. Hence it would lapse
not having clarity, vendor filed GSTR1 in Mar-2019 or you have availed manually in Mar-2019.
for example if A purchases goods from B. B has filed his returns regularly and shown sales made to A and also paid the tax on such goods. But A could not able to file returns before march 2019. Is it possible to claim ITC after march 2019
Yes , can claim ITC , but book that Invoice in FY 18-19 in your books of accounts
i have a douts 17-18 some 2a purchase bill so i can claim in march -2019 gstr3b and i would be avail in itc and also bookes in 2018-19 book account because i have 2017-18 audit it return is filed...so that account is closed how i avail of...the same accounting entry please clarification of same..
Sorry i misread your query
The ITC will be not available if not claim by March 19 Return .
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