Vat invoice date confusion

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CA MBA BCOM

28 Points Posted on 28 January 2014

Case- Purchase date bill for the items - 18/01/2014

Sale Date bill for the same items - 28/12/2013

Client received the purchase bill late i.e. as on 18/01/2014 which goes in fourth quarter.

My question is whether we can claim input tax credit in 3rd quarter for the purchase bill as on 18/01/2014 or shall we claim in 4th quarter return.

Thanx in advance

Replies (2)

Chartered Accountant

900 Points Posted on 28 January 2014

You can claim the cedit in 3rd quarter..

30 Points Posted on 28 January 2014

In which State? You have to refer VAT Act/Rules of that State as each State may have different rules.

Ordinarily, on what basis you take input tax credit in 3rd Quarter when invoice itself is received in 4th Quarter? You need to consider this aspect.

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