banner_ad

Input tax credit of last month end purchase

289 views 2 replies
User Avatar

Trainee CMA
241 Points Posted on 04 April 2023
Hello

I purchased material from Delhi to Kerala. Invoice raised on 30th March but material received on April 4 th. Which date i must enter purchase. If its on receipt date, how to utilize credit appeared on 2A of last month. Please clarify
0 Reply Share Follow
On 04 April 2023 at 01:01 Report
Replies (2)
User Avatar

GST Practitioner
55067 Points Posted on 04 April 2023
Purchase need to book in April & ITC need to be claimed in April month as the goods being received in April ( one of condition to claim ITC in Section 16(2) : goods must be received)

In March you can record such transactions in account book as " Goods in Transit "
1 Reply
On 04 April 2023 at 01:16
User Avatar

Profession Business
28196 Points Posted on 04 April 2023
Accrual basis of accounting is followed. Purchase liability to be booked in Mar . Then to be reversed in April 2023. Gstr 2A input tax credit on receipt basis.
Reply
On 04 April 2023 at 08:50

Summarize this with AI
ChatGPT Perplexity Claude Google AI Grok

CCI Pro

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Threads

More recent discussions | Post

Related Threads
Loading

Latest Job Openings

View all
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured 02 May 2026
Senior Executive

hitesh chandwani & co

Pune

B.Com

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details