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Input Tax Credit

ITC / Input 345 views 6 replies
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124 Points Posted on 17 May 2019
I received few bills of previous year 2018-19 charging GST of 18%...i want to know whether i can take itc on those bills..if yes what will be the entry in tally..should i show them as receivable?
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On 17 May 2019 at 09:03 Report
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Chartered Accountant
687 Points Posted on 17 May 2019

Yes you can take. The credit on invoices pertaining to FY 18-19, can be availed upto 30th September 2019. In tally, you can show the same as any other credit and debit it to input account.           

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On 17 May 2019 at 09:11
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"Do the Right Thing...!!!"
128147 Points Posted on 17 May 2019
Yes... You can take ITC for the bills.

Also You can book the invoices in FY 18-19 and C/f the Tax to April month.
463 Reply
On 17 May 2019 at 10:10
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292 Points Posted on 17 May 2019
As per cgst rules,2017

the last date for availing ITC for a financial year will be Earlier of

1) Sept 30th of the following financial year
2) due date of filling annual return. i.e, 30th dec generally unless extended
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On 17 May 2019 at 10:42
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Ceo
3869 Points Posted on 17 May 2019
ITC can be claimed. it shall be asset
38 Reply
On 17 May 2019 at 20:09
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partner
308 Points Posted on 17 May 2019
do normal entry of the bills. incorporate the itc in current month gstr 3b that's it
1 Reply
On 17 May 2019 at 23:26
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7059 Points Posted on 03 August 2019
good clarification and information
33 Reply
On 03 August 2019 at 23:32


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