GST 50% input take or 100%

This query is : Resolved 

11 May 2020 Hi All,

If we received Service Invoice for Rs.10000+18%GST=11800/- but we paid only 50% of amount to Vendor Rs.5900/- then how much GST Input we can take, 50% input or 100% Input GST.

Thanking you
Amruth

11 May 2020 You can take only 50% ITC.

11 May 2020 Sir,
But at the time of Auditing, the auditor may in invoice ITC is 100%
how you take 50% ITC, means we have follow the Invoice ITC but payment to vendor is differnt.


11 May 2020 yes you can take 100% if iTC but you should pay to party within time allowed.
otherwise you should have to reverse the ITC

11 May 2020 Thanks very much Sir

12 May 2020 Agreed with the views. Itc is taken in full but payment to supplier should with 180 days from date of invoice.

12 May 2020 If payment not done within 180 days, reversal will be done of full itc with interest.

16 May 2020 Thanks very much Sir




You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join CCI Pro
CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries