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ITC on expense relating to earlier years

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Gangeshwar

proprietor

136 Points Posted on 27 August 2020

One of our suppliers used to raise rent invoices without GST till Nov' 2018. In Nov 2018, they have raised a consolidated invoice (including GST) for the period 1.7.17 to 31.10.18.

We have not availed ITC on same till now, can we do it now??? Is there any reference for availing ITC in current year relating to previous years expenses. I think only part of it will be reflected now under GSTR 2A.

Please suggest. Thanks in advance

Replies (5)

Quick Summary

A user is asking if they can claim Input Tax Credit (ITC) on rent invoices that were issued without GST until November 2018. A consolidated invoice including GST for the period July 2017 to October 2018 was received later, and they haven't claimed ITC yet. The discussion explores whether it's still possible to claim this ITC in the current year, considering the relevant time limits and GSTR 2A reconciliation.

CA Sunil Kumar

Chartered Accountant

4524 Points Posted on 27 August 2020

Yes you can claim ITC
when expenses booked in previous year
Expenses Dr
To Landlord a/c
Now reced the bill with GST
Gst input a/c Dr
To Landlord a/c
can claim GST input in 3b