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ITC new rule in GST
what will happen to quarterly return ITC .we have to wait for three months to claim ITC?
Replies (4)
Why...?
You can claim ITC as per bills. But, Consider the rule with quarterly...
Before that Follow Your suppliers for filling their returns.
You can claim ITC as per bills. But, Consider the rule with quarterly...
Before that Follow Your suppliers for filling their returns.
You can claim the credit. however, the difference of credit available in PR and 2a would be restricted to 20%. so matching would be on tax period wise. Big task ahead.
But it doesn't allow above120%
all purchases from Q R1 ,then no ITC
all purchases from Q R1 ,then no ITC
Yes correct that why periodic matching would be required.
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