Asst. Manager
216 Points
Joined December 2014
Yes, i agree with Mr. Prasad. However, if your supplier fails to do so. Send them a debit note including 24% interest from the date of availing ITC to the date of payment by you. Also, from october onwards a person shall not avail more then 20% ITC if not reflecting in GSTR 2A. please see below:
Input Tax credit, not more than 20%
Sub-rule (4) has been inserted under rule 36, which put conditions to avail input tax credit. The new rule says, an input tax credit availed by the taxpayer on the invoice and debit notes shall not exceed more than 20%, then that of appearing in GSTR 2A return.
In other words, the recipient of goods or services can avail only 20% Input tax credit on inward supplies if they are not appearing in GSTR 2A.
For eg. The receiver has Input tax credit invoices amounting to Rs. 5 lakh. However, the supplier has uploaded invoices of only worth Rs. 3 lakh. Therefore, in this case, the recipient can avail input tax credit of Rs. 3.60 lakh only, although he as invoices of Rs. 5Lakh.