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Pending ITC

Naveen Kumar   22 November 2020

Naveen Kumar

 15 likes  397 points

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we have yet not claimed ITC petering to January 2020. same claimed in GSTR 3B May 2020. please advise below entry in books of account correct

Purchase account. Dr.Rs. 12000
IGST input Dr. Rs.2160
Party account cr. 14160

ITC not availed Rs. 2160 dr (current assets)
IGST input. Rs. 2160 Cr.

In May 2020
IGST input Dr. 2160
ITC not availed Cr 2160
Pankaj Rawat

Pankaj Rawat (GST Practitioner)     22 November 2020

Pankaj Rawat
GST Practitioner 
 3640 likes  49374 points

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Dear Naveen.
Entry for ITC claimed in May 2020 of Jan -20 can be pass in books of accounts as below:

in Fy 2019-20
Pending IGST input ....Dr
To IGST input..... Cr

But as such you are not required to pass any entry for the same , because the ITC claimed as per books in comparison to GSTR 3B is excess by Rs.2160/- , so just prepare Reconciliation statement as it is finally Claimed in Next FY in month May-20
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Naveen Kumar

Naveen Kumar   23 November 2020

Naveen Kumar

 15 likes  397 points

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Thank you Sir,
earlier I have not pass any entry but when I entered purchase entry book balance and gst portal balance both are not match
Bhavika Kothari

Bhavika Kothari (CA)     06 December 2020

Bhavika Kothari
 22 likes  558 points

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Instead of IGST Input it should be Pending IGST Input account

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