ITC ON GST

This query is : Resolved

MAHESHA R (Querist)
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15 October 2020 Dear Sir

Kindly advise our suppliers are not filed the GSTR-1 within 11th of Sept-2020 and if they file the return after 11th and upto 18th of this month.

Shall we consider that ITC while calculating output liability.

Kindly advise

Udaya Chandran

Udaya Chandran (Expert)
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15 October 2020 You can consider this ITC only for the next month if the same exceeds 10% of the aggregate ITC as uploaded by all the suppliers.

MAHESHA R

MAHESHA R (Querist)
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15 October 2020 Sir

Kindly explain in details i am not able to understand

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Udaya Chandran

Udaya Chandran (Expert)
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15 October 2020 If the aggregate ITC for the month from all suppliers is Rs.100 and the ITC value of that particular supplier' invoice is Rs.10 who [only among others] did not file the return. You can take ITC of Rs.99 (Rs.90 x 10% + Rs.90).

Lekhraj sood

Lekhraj sood (Expert)
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15 October 2020 Yes, you can consider all invoices appearing in your 2A upto 19th september and then apply rule 36(4) which allows maximum credit of 110% of the GST amount appearing in your GSTR2A.

MAHESHA R

MAHESHA R (Querist)
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20 October 2020 THANK YOU VERY MUCH SIR