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Input tax credit for last fy.2021-22.
Should we get input tax credit of last fy.2021-22 invoice if we pay it in the m/o Nov 2022 ?
Replies (8)
If payment to vendor is not made within 180days then that ITC needs to be reversed. Once the payment is made, ITC can be reclaimed.
There are two cases here
1. If input is already availed and reversed as payment is not done with in 180 days, then such input can be taken any time without limit
2. If input is not at all availed, then this month end is last date for availing, so you can avail it in Oct'22 return to be filed in Nov'22
1. If input is already availed and reversed as payment is not done with in 180 days, then such input can be taken any time without limit
2. If input is not at all availed, then this month end is last date for availing, so you can avail it in Oct'22 return to be filed in Nov'22
If we made payment in the m/o Nov than should we get input credit. we didnt take input credit before.
Hi Ruchi,
Please let me know below details to answer you bettter:
1. What is the invoice date ?
2. what is the nature of service, is it elogible Input tax credit?
3. Is it reflecting in GSTR 2A /2B?
Thanks
Bhavana
Please let me know below details to answer you bettter:
1. What is the invoice date ?
2. what is the nature of service, is it elogible Input tax credit?
3. Is it reflecting in GSTR 2A /2B?
Thanks
Bhavana
1. Feb 2022
2. yes it's eligible
3. yes reflected in 2b
2. yes it's eligible
3. yes reflected in 2b
Then you can take credit in Oct'22 GSTR 3B.
If we didnt pay to vendor in oct month than how we take credit in oct 22 gstr 3b
Take credit in Oct 22 (3B) as this is the last date of availing credit pertaining to FY2021-22. Reverse it in the same return under Table 4(B)(2) as payment was not made with in 180 days. Take it again in the month of Nov 22 when you made payment.
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