Hi as per new rule only 10% provisional itc allowed but my que is my client has applied for new gst no in Jan 20 and in feb he has filed gst 3b and also claimed itc and paid liability from that even in gstr 2a no credit available so is their any issues arise in future for panelty etc. He opted quarterly filing mode.
Pls guide us from expert
Thanks in advance
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ITC CLAIM AS PER NEW RULE (ALLOW ONLY 10% AS PROVISIONAL ITC)
Replies (4)
Quick Summary
If everything is clear then why would someone ask you interest or penalty
@ Mr Chintan.,
If ITC not available in GSTR 2A then How You take ITC as per new rule...?!
If ITC not available in GSTR 2A then How You take ITC as per new rule...?!
Exactly if ITC is not available in GSTR 2A than portal should redirect me to pay from bank account. But here GST portal has set off from eligible provisional ITC which i have mentioned in 3b and GSTR 2A has no ITC available as this is the first return filed because client has taken gst no in January.
Even supplier will file gstr 1 in March 20 as he is in quarterly return method
As per Your GSTR 2A ITC not available...
But, very bad think is 🤔 No way or option for quarterly filing inputs as the new provisions...
But, very bad think is 🤔 No way or option for quarterly filing inputs as the new provisions...
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