Dear Sir,
Our consultant forgot to take 4laks itc in the month of november-20 , now when filing feb-21 return we came to know that he ignored november ITC . When we are trying to add that input in this month its showing that only 10% of ITC canbe claimed and ITC clomn becoming RED .In the month of november 4 laks showing in GSTR2A , plaese advice us .
shall we claim that ITC now though its showing in red colour.
To claim ITC, the buyer should pay the supplier for the supplies received (inclusive of tax) within 180 days from the date of issuing the invoice
“A registered person shall not be entitled to take input tax credit in respect of any invoice or debit note for supply of goods or services or both after the due date of furnishing of the return under section 39 for the month of September following the end of financial year to which such invoice or invoice relating to
Yes, you can make the claim in Feb 2021 GSTR 3B. The figures will turn red and give you warning. File the GSTR return with red figures.
You might receive a notice from the department for your excess claim. reply to that with your explanation and detailed reconciliations.
Please prepare the reco in advance.
CAclubindia
