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
You can claim the cedit in 3rd quarter..
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.
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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