ITC not claimed in the F.Y. 19 – 20 and the entire amount was expensed out in the books of accounts. Subsequently, in September’20, out of this, what was eligible, ITC was claimed on it and the entry passed in F.Y.19 – 20 for expensing out was reversed. Is it in line with the GST Provisions and therefore ITC allowed?
ITC on GST amount expensed out earlier and then reversed
Kaustubh Ram Karandikar (Corporate Consultant- Central Excise & Service Tax) (519 Points)
31 December 2021
CAclubindia
