Go AD-Free with CAclubindia Pro and Daily Mobile Updates. Subscribe Now!

Query 17-18

06 July 2018

our account Year 17-18 not final audit. by mistake miss placed purchase bill and not take purchase. now can I take purchase bill in 17-18

Reply
Follow
Share

4 Replies

RAJA P M ("Do the Right Thing...!!!") (128106 Points)
Replied 06 July 2018

Your query is not cleared...

CA ABHAY GUPTA (Practice) (3235 Points)
Replied 06 July 2018

yes you can book the purchase in 17-18 as your books are not audited..

further Section 16(4) of CGST Act says that a taxable person shall not be entitled to take input tax credit in respect of any invoice or debit note for supply of goods or services after furnishing of the return under section 34 for the month of September following the end of financial year to which such invoice or invoice relating to such debit note pertains or furnishing of the relevant annual return, whichever is earlier.

In simple words, you can book the tax invoice in month of March, 2018 so that balance as per ur books and party books match with each other & claim the input tax credit while filing your GSTR 3B till September,2018 or filing of annual return for FY 2017-18 which ever is earlier.

2 Like