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ITC claim as per purchase Rs. 18974

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Andrews Xavier

64 Points Posted on 30 June 2021

Sirs,
I have to claim ITC 18974, but auto
populated only 2502.How can I claim?

Andrews from Cochin

Replies (3)

Quick Summary

If your auto-populated Input Tax Credit (ITC) is less than your actual claim, it's likely due to your supplier not filing their invoices. You need to ensure your supplier uploads their invoices for the relevant period. Additionally, verify that you have a valid tax invoice, have received the goods or services, and that the supplier has paid the tax. For April and May, you can claim ITC based on invoices even if not yet auto-populated, due to a relaxation in Rule 36(4).

VINAYAK HEGDE

accounting & taxation freelancer

157 Points Posted on 30 June 2021

Ask your supplier file( upload invoices) IFF /GST R1 which ever applicable for fim for that month.

prasad Nilugal

2353 Points Posted on 30 June 2021

In addition to reply by Mr Hegde , For input tax credit as per section 16(2) of the CGST act 2017 , you have to fulfill following conditions
1) You must have valid tax invoice and correct GSTN of supplier
2) You must receive Goods or services .
3) Supplier must pay tax collected from you to GOVT account .
4) you must file return .
Also same ITC should not be under block credit as per section 17(5) of the CGST act 2017.

CMA Poornima Madhava

CMA

9106 Points Posted on 30 June 2021

You need to find out if any invoice is pending to be uploaded by the seller.

In any case, if such return is pertaining to April or May, you may claim ITC on the basis of invoice because rule 36(4) has been relaxed for Apr and May.