Hello Sir/Madam
In order to claim ITC, one of the condition is ITC can not be restricted.
In Practical way, What kind of restrictions can be imposed, is it by GST department or by any one
Is it on ITC on 2B
Please advise
Thanks
CRR RR
(41 Points)
Hello Sir/Madam
In order to claim ITC, one of the condition is ITC can not be restricted.
In Practical way, What kind of restrictions can be imposed, is it by GST department or by any one
Is it on ITC on 2B
Please advise
Thanks
Rama chary Rachakonda
(Master in Accounts & Lawyer email ID:ramachary64@gmail.com voice no:9989324294)
(6403 Points)
Replied 12 January 2025
To claim Input Tax Credit (ITC), one of the conditions is that the ITC cannot be restricted.
Types of Restrictions Restrictions on ITC can be imposed by:
Restrictions on ITC on GSTR-2B can occur due to:
2. Ensure suppliers are compliant with GST regulations and are reporting supplies correctly.
3. File GSTR-3B and pay taxes on time to avoid any restrictions on ITC.
4. Regularly review GSTR-2B to identify any discrepancies or restrictions on ITC.
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