prasad Nilugal (Accountant and GST Practitioner . ) 20 November 2019
As per section 16(2) of the CGST 2017 act , you must fulfill following conditions to Claim Input Tax credit
1) you must have Valid Tax Invoice with correct GSTN etc
2) you must have received Goods or Services
3) Supplier shall pay Tax collected from you to Govt Account .
4) recipient must file return
In addition to above as per new rule , it should reflect in GSTR 2A . & you goods to service should not be in the list of block credit section 17(5) of the CGST act 2017 .
RAJA P M ("Do the Right Thing...!!!") 21 November 2019
@ Mr Amol Jadhav.,
Well... Very well question. But, No more solution or proper clarification from dept or experts...
Bcoz, All the view is the new rule based on monthly. But, No detailed or proper solutions for quarterly filing inputs...
Now, As per Your query and My view.
You will claim ITC based on valid invoice (as per Mr Prasad Nilugal's view) as per monthly In & out. Check out quarterly based GSTR 2A....
NAVEEN CHAND (Just keep going. You never know how far you can go.) 21 November 2019
initially, input can be taken on the basis of possession of valid GST TAX INVOICE from the supplier and good received .
but one of the important point is to that counter party has also filed his return and invoice is reflected