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Input tax credit for last fy.2021-22.

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7 Points Posted on 14 November 2022
Should we get input tax credit of last fy.2021-22 invoice if we pay it in the m/o Nov 2022 ?
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On 14 November 2022 at 12:34 Report
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Student CA Final
422 Points Posted on 14 November 2022
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.
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On 14 November 2022 at 15:02
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banglore
1496 Points Posted on 15 November 2022
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
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On 15 November 2022 at 06:59
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7 Points Posted on 15 November 2022
If we made payment in the m/o Nov than should we get input credit. we didnt take input credit before.
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On 15 November 2022 at 11:25
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Student CA Final
422 Points Posted on 15 November 2022
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
4 Reply
On 15 November 2022 at 11:34
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7 Points Posted on 15 November 2022
1. Feb 2022
2. yes it's eligible
3. yes reflected in 2b
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On 15 November 2022 at 12:07
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Student CA Final
422 Points Posted on 15 November 2022
Then you can take credit in Oct'22 GSTR 3B.
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On 15 November 2022 at 16:10
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7 Points Posted on 16 November 2022
If we didnt pay to vendor in oct month than how we take credit in oct 22 gstr 3b
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On 16 November 2022 at 11:10
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2 Points Posted on 18 November 2022

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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On 18 November 2022 at 13:44


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