Last Year ITC It's urgent please help

ITC / Input 291 views 5 replies

P.Mishra

Accountant

155 Points Joined July 2010

Some purchase bills of 2017-18 have not been entered in books and audited balance sheet..when we have finalised Audited Balance Sheet These bills not show in GSTR 2A, So we have not claim ITC on these bills, and some ITC reverse.Now we have check GSTR 2A for Annual Return these are traced in GSTR 2A,
Can I book purchase entry in 2018-19 and itc claim in March 19 GSTR 3 B?
And Can I Correct in Annual Return?
Please help me it's urgent.

if any other procedure, please suggest me.
Thanks

Replies (5)

Rupisha Agarwal

31 Points Joined July 2018

Hy friend,
According to my study, Input bills which was left for entered in books and audited balance sheet, then you have no chance to incorporate the same. Because if you record the ITC on such bills, the audited figure of books are mismatched.
Now come to GSTR-9 FAQ, there is specifically mentioned, auto populated data should be revised except total amount of ITC availed through Form GSTR-3B

Pankaj Rawat

GST Practitioner

55062 Points Joined June 2017

The Purcbase bills not Accounted in Balance sheet & also in Account books pertaing to Fy 2017-18, cannot reported in GSTR 9 . Yes can be shown in fy 2018-19 but ITC cannot be claim

P.Mishra

Accountant

155 Points Joined July 2010

Thanks for reply,
In GSTR 9, can we reverse itc on these bills which difference are show in GSTR 9 in GSTR 2 A And as per book?

narendra

Accountant

281 Points Joined February 2008

Atleast, you can claim expense in I.T. in FY 18-19 as Mr. Pankaj rightly pointed out.

am afraid that though it seems your vendor was late in reporting the sales, they will Not issue a credit note against the same in FY 17-18 and report it in Mar'19 GSTR-1 (that is if they not done so).

Therefore, it is very important to sort out any differences between you and vendors w.r.t. GST reporting before you finalise your books or the due date for Next Year's September GSTR-3B (whichever is earlier).