Dear All,
Query: As per ITC rules, we can claim ITC only when we receive goods in our godown physically.
So, if goods are billed in March and therefore getting reflected in 2B of March, but actually goods are received by purchaser in April, then can he claim that ITC in April; as there would be a mismatch between 2B and 3B of April ??
Please provide your kind suggestions.
Okay, Thanks everybody.
Input Tax credit (ITC) should be claimed in April only in this case
Thank You All for the above replies.
But actually GST in itself is a web of confusions.
Further, what if ITC of that particular invoice exceeds the total ITC shown in 2B of April by 30% [As per Rule 36(4) - 5% variance is allowed] ??
Shyam Joshi & Associates
Pune
B.Com
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O P Bagla & Co LLP
New Delhi
CA Inter
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CAclubindia
