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ITC CREDIT

15 October 2018

If we have taken ITC credit of Rs.10000/- of Fy 2017-18 bills but party has missed to upload Bills in GSTR1 in Fy 17-18 return and Sep- 18 return, then what will happened? Can we still claim that ITC credit?

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5 Replies

HARSHIL JAIN (MD) (338 Points)
Replied 15 October 2018

to my best knowledge thats not a valid thing.
during assessment you are answerable for it..

as of now you can adjust your tax liability with that of input tax to be claimed.
for suppose your tax liablity is 115000
and input credit tax(which party has missed) is 100000

so u need to just pay 15000/- for now..

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HARSHIL JAIN (MD) (338 Points)
Replied 15 October 2018

ask your party to still add that missing bill if possible in next month but only condition that portal allows that to do...
bcz last ammendment was to be made in september month and you have missed that too..

RAJA P M ("Do the Right Thing...!!!") (128106 Points)
Replied 15 October 2018

@ Vaishali.,

Your query is not cleared Or Completed. So, Please elaborate Your query once again.

ARVINDER SINGH (28 Points)
Replied 15 October 2018

@ harshil Jain ... you are right that he should ask the party to amend but as you said last date is over ..well it is not..his supplier can add the bill in September 2018 GSTR1 ..the last date for which is 30th October 2018.