ITC NOT RECORDED IN BOOKS OF ACCOUNT

This discussion addresses a common GST issue: claiming Input Tax Credit (ITC) for FY 21-22 when it was declared in returns and reflected in GSTR-2A, but mistakenly omitted from the company's books of accounts, which have since been audited. The core question is whether the ITC can still be claimed. Experts weigh in on the conditions required for claiming ITC under the CGST Act, including valid invoices, receipt of goods/services, supplier compliance, and ITC reflecting in GSTR-2B. The debate touches upon whether booking the tax as an expense in audited accounts invalidates the ITC claim and the possibility of rectifying such errors, especially after an audit.