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ITC RELATED

SANJAY GOEL (70 Points)

18 December 2017

How to take ITC on Purchase, if not take in same month. Can we avail in next month ......

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7 Replies

RAJA P M ("Do the Right Thing...!!!") (127142 Points)
Replied 18 December 2017

Yes... Why not...?! 😁😁😁

1 Like

A.K.Banik (Tax Consultant) (1596 Points)
Replied 18 December 2017

Example:

For the Month of December:

Purchase Rs. 10,000/- on which IGST Rs. 500/-

Sales: Nil

For the Month of January:

Purchase: Nil

Sales: Rs. 20,000/- on which IGST Rs. 1,000/-

Now, when we will file GSTR 3B for January, we shall take entire IGST as ITC even if no sales take place in December.

In February, (during filing of GSTR 3B for January) we shall get ITC credit of January i.e. Rs. 500/-. So we have to pay the remaining Rs. 500/- by Challan via E Payment/ NEFT/ OTC.

SANJAY GOEL (70 Points)
Replied 18 December 2017

IF WE DOES NOT MENTION ITC IN DEC. RETURN I.E JANUARY, THEN WHETHER WE CAN CLAIM IT IN FEB.

Santosh Yadav (106 Points)
Replied 18 December 2017

You can mention ITC and Take credit

JEEVIKA AND CO (PROPRIETRIX) (153 Points)
Replied 18 December 2017

If you can't show the ITC in previous months then you can show the details in next month gstr 3b upto march 2018.

no more restrictions...

A.K.Banik (Tax Consultant) (1596 Points)
Replied 18 December 2017

Originally posted by : SANJAY GOEL
	IF WE DOES NOT MENTION ITC IN DEC. RETURN I.E JANUARY, THEN WHETHER WE CAN CLAIM IT IN FEB.

If you do not mention ITC in december, then, you can not avail the benefit of carry forward of ITC.

RAJA P M ("Do the Right Thing...!!!") (127142 Points)
Replied 18 December 2017

Originally posted by : A.K.Banik
	Originally posted by : SANJAY GOEL IF WE DOES NOT MENTION ITC IN DEC. RETURN I.E JANUARY, THEN WHETHER WE CAN CLAIM IT IN FEB. If you do not mention ITC in december, then, you can not avail the benefit of carry forward of ITC.