Respected all Members
Please suggest me
In October ITC in books 350000
In October 11 gstr2A. 98000
In October 18 Gstr2A. 250000
Now
Questions is Howmany ITC taken in gstr3B.98000 Or 250000.
Please Help me
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Regarding 20percent ITC rule
Replies (7)
What is ITC on 31.10.2019?
Good Question Mrs Elavarasi...
@ Kamlesh.,
What is Your ITC in end of the month/& GSTR 2A
@ Kamlesh.,
What is Your ITC in end of the month/& GSTR 2A
ITC CLAIM WILL BE 250000+20000 TOTAL 270000
31st October as per books 350000
11th October as per gstr2A 98000
18th October as per gstr2A. 250000
and gstr3b not file till 18th October
so Howmany ITC taken in 3b 250000 or 98000
11th October as per gstr2A 98000
18th October as per gstr2A. 250000
and gstr3b not file till 18th October
so Howmany ITC taken in 3b 250000 or 98000
I think 18th October means 18th November... Right...?
Your available ITC in GSTR 2A 2.50 lakhs. But, in Your books 3.5 lakhs...
As per new rule You can claim ITC 3.0 lakhs
= 2,50000 * 20%
= 50000 + 250000
= 300,000/-
As 11th October 98k. But, Over all rule applicable as per GSTR 2A before or on or after 11th October...
So, No comments from my side on or before 11th October...
Your available ITC in GSTR 2A 2.50 lakhs. But, in Your books 3.5 lakhs...
As per new rule You can claim ITC 3.0 lakhs
= 2,50000 * 20%
= 50000 + 250000
= 300,000/-
As 11th October 98k. But, Over all rule applicable as per GSTR 2A before or on or after 11th October...
So, No comments from my side on or before 11th October...
Yes sir sorry 18 November right
Before filing of GSTR3B means, manually we have to take cutoff for calculation of 20% cap ITC with GSTR2A. here in your case 18th Nov 2019 means 2.5 lacks * 20% provisional credit.
This is cumbersome exercise.
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