Sir
My Client is regularly purchasing Timber from Govt Timber Depot.
My question is that purchase Timber from depot on auction has time limit of 6 or 3 month to lift the timber round logs
We lift the timber in instalment over a period fixed by Govt Timber Depot
The issue is that Invoice has been issued at entire value on auction date
Wheather I need to take ITC at last instalment of lifting of timber log
or on the date of issue of invoice
As per ITC Rule at the last instalment has been lift you will be eligible for ITC
Menu
Input Tax Credit on Timber Logs
Replies (1)
Once the invoice is issued, the supplier is liable to pay the GST to the Govt irrespective of the payment by the recipient. However, admissibility of credit is regulated by section 16(2)(b) and the availment of credit is deferred till the goods/services have been received by the recipient. Therefore, you are eligible to avail credit of the quantity of goods/services receivedby you at any stage. If any Rule provides that you should take the credit only when the entire quantity has been received, pl honour that Rule.
Recent Threads
- ITR filling for legal heir
- How Can I qualify CA Final Exam?
- Wrong reporting on 22 april 2026 under article inc
- Articeship Form 107
- TAN for Multiple States
- Delivery Challan serial number Issue and return ru
- After filing form 71 For TDS mismatch
- UNCLAIMED TDS REFUND QUERY
- Rcm payable which head
- Query of GST
Related Threads
CAclubindia
