Regarding Previous Year GST Credit

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108 Points Posted on 06 July 2020
Dear Sir ,

I have Remain GST Credit of Rupees 20000/- of F.Y. 2019-20

Can I adjust this credit in GSTR 3B of April 20
But there is no sales and purchase in regarding month.

so how to claim previous year credit?

Best Regards

Anoop Jain
Mob : 91110-65332
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On 06 July 2020 at 00:27 Report
Replies (7)
Quick Summary
This discussion clarifies how to utilise unadjusted GST credit from previous financial years. The consensus is that GST credit lying in your electronic credit ledger can be carried forward indefinitely and used against future GST liabilities on taxable outward supplies. Even if there are no sales in a particular month, the credit remains available for adjustment in subsequent periods when sales occur.

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GST Practitioner
55067 Points Posted on 06 July 2020
The credit lying in your credit ledger can only be adjusted against your outward supply as the manner prescribed in rule 88A

Note : It will remain in your credit ledger unless adjusted.
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On 06 July 2020 at 01:12
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Assistant Manager
787 Points Posted on 06 July 2020
The closing balance of the credit Rs. 20000 would be available in your electronic credit ledger and it can be utilised against the GST liability. There is no time limit of utilisation. Therefore it will continue to be there in the credit ledger.
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On 06 July 2020 at 01:37
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4215 Points Posted on 06 July 2020
You adjust the available credit on the subsequent demand
2 Reply
On 06 July 2020 at 06:58
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Designation
771 Points Posted on 06 July 2020
It can be utilised only against taxable output supply.
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On 06 July 2020 at 08:50
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108 Points Posted on 06 July 2020
Thanks to all of you ..
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On 06 July 2020 at 11:03
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Consultant
1891 Points Posted on 06 July 2020

You can carry forward the un-utilised ITC available in you ECL for any period of time. So you can utilise the ITC from FY 2019-20 in the subsequent months of sale.  

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On 06 July 2020 at 11:16
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CA
1258 Points Posted on 10 July 2020

The amount available in Credit ledger can be claimed carried forward in the next month. So yes you can claim the ITC in next month. If there is no sale in next month then it can be carried forward for future months in which there is a sale.

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On 10 July 2020 at 14:40

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