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ITC on QRMP Purchases

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Jigar

B.Com

153 Points Posted on 30 May 2021

How to claim ITC on purchase made from the dealer who is filing his quarterly return. Because He will file his GST R1 after 3 month.???

Replies (7)

Quick Summary

This discussion clarifies how to claim Input Tax Credit (ITC) on purchases from suppliers who file under the QRMP scheme. While these suppliers file their main returns quarterly, they have the option to file an Invoice Furnishing Facility (IFF) monthly. Claiming ITC is dependent on the supplier's actions; you can only claim it once it appears in your GSTR-2B. It's recommended to communicate with your supplier and encourage them to use the IFF to upload invoices monthly, ensuring you can claim your ITC promptly.

Aj Style

Student

360 Points Posted on 30 May 2021

Itc will be available when it's shows in 2b, that's mean you can take that itc when he file the return i.e in 3rd month

CA. Sourav Sarkar

Chartered Accountant

24588 Points Posted on 30 May 2021

Yes agree with above

Ankit Neema

2742 Points Posted on 30 May 2021

When your ITC is shown in GSTR 2B , then you can claim

CA Altamush Zafar

GST Consultant

15986 Points Posted on 31 May 2021

The quarterly return filer can file IFF monthly and thus can shown his invoices monthly. You should communicate with your quarterly supplier regarding this.

Filing IFF is optional

CMA Poornima Madhava

CMA

13117 Points Posted on 31 May 2021

You may avail ITC in the subsequent month only if the supplier has filed IFF (which is optional), otherwise ITC can be availed only after the supplier files quarterly GSTR1.

Pankaj Rawat

GST Practitioner

55067 Points Posted on 31 May 2021

Ask him to file IFF before due date, the same will get reflected in your 2B .

Note : The QRMP scheme holder can file monthly IFF but the limit in value for the same is 50 lac