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Input Tax Credit

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Proprietor
538 Points Joined December 2016
If the supplier filed August GSTR 1 after the due date but the before September GSTR 1 due date. Now my question is whether the buyer has to reverse the input and again take it as September input.
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On 24 October 2020 at 22:48 Report
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Accountant
3662 Points Joined May 2018
Yes, you can take ITC in September month return
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On 24 October 2020 at 22:53
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Proprietor
538 Points Joined December 2016
Whether I have to reverse input if I have taken input in the month of August'20
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On 24 October 2020 at 22:56
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Accountant
3662 Points Joined May 2018
What is the invoice date?
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On 24 October 2020 at 22:57
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Proprietor
538 Points Joined December 2016
It is of August
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On 24 October 2020 at 22:58
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Accountant
3662 Points Joined May 2018
No need to reverse ITC
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On 24 October 2020 at 22:58
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Tax consultant
5895 Points Joined September 2020
Can you elaborate your question more clearly
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On 24 October 2020 at 23:02
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Proprietor
538 Points Joined December 2016
But I have seen one video on Clarification on 36(4) he told that we have to reverse it and again claim it
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On 24 October 2020 at 23:03
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Accountant
3662 Points Joined May 2018
Not required to reverse ITC

You can ITC upto 110%
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On 24 October 2020 at 23:12
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121 Points Joined June 2020
NO NEED TO REVERSE ITC and no need to claimed again....
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On 24 October 2020 at 23:30
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CA
1258 Points Joined May 2020

If the ITC was claimed in August GSTR1 and it was under the provisional ITC of 10% then you need to not reverse it

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On 30 October 2020 at 18:35
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CA
1258 Points Joined May 2020

If the ITC was claimed in August GSTR1 and it was under the provisional ITC of 10% then you need to not reverse it

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On 30 October 2020 at 18:36

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