Dear Sir,
My month end purchases from supplier reach me in the next month due to the distance between my factory and supplier factory
As now only credit as per 2b can be taken how can we account for this ? should I book the purchases as per the invoice date as my supplier will show in GSTR of that month else I will have a difficulty in claiming it next month
Your should account that invoice in same date as given in invoice. If you have missed to Account that then amend in next month with detail of actual date, invoice no. Amount etc.
You can claim the ITC after reciving the goods and reflected in 2B. Both condition are madatory to take the ITC
If supplier Sends goods on 30th march and i receive on 5th april in next FY then can i claim in next FY .
For availing ITC there are four conditions, two of them being:
1. You are in possession of the invoice,
2. You have received the goods.
One of the other two condition is irrelevant as it says you have to file your GSTR-3B which is very obvious.
And the last condition says that supplier must have paid the amount of GST to Government which is quite vague as no procedure is prescribed for such checking.
Additionally, the GST Rules say that you can take ITC once the same is reflecting in your GSTR-2B.
Hence, these three things have to be looked into:
1. You have the invoice in possession,
2. You have received the goods, and
3. Invoice is appearing in GSTR-2B.
Further, the ITC pertaining to a Financial Year can be taken till the date of filing of GSTR-3B for the month of September following the next year
CAclubindia
