ITC of one purchase bill of F.Y. 2018-19 claimed in sept. 2019.
Whether to reflect this itc and corresponding purchase in books of accounts/balance sheet for current F.Y or previous F.Y ?
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ITC Adjustment of previous F.Y in books of accounts
Replies (8)
Is your Balance sheet audited for F.Y 2018-19 ?.
Yes, it has been audited
When you received the purchase bill ? is it a Company , partnership firm , sole propwriter ,LLP , , ?.
Hi sumeet,
technically you should add this in previous financial year as for as income tax is concerned. however for gst its a reconciliation item.
Thank you
You can also write to me at sthayin @ gmail for further assistance
technically you should add this in previous financial year as for as income tax is concerned. however for gst its a reconciliation item.
Thank you
You can also write to me at sthayin @ gmail for further assistance
Bill received from a distributor in Feb 2019 but got misplaced then and hence could not be entered at that time and later on was observed during reconciliation
1) If you don't have original Purchase Bill then you neither claim Input Tax credit nor you can show in the books of accounts . only on rectification in GSTR 2A you can not claim Input tax credit .
Got duplicate copy of bill from supplier
confirm with others also .
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