GST in excess of 5%
This query is : Resolved
16 January 2021
Practical problem is Nov invoices reflected in Nov 2A but our co recorded it on 1st and 2nd Dec while actual material received.
So while claiming input in Dec 2020 the limit of 5% gets exceeded...what to do?
In short problem is input appeared in Nov but we are claiming it in Dec is there any issue?
So while claiming input in Dec 2020 the limit of 5% gets exceeded...what to do?
In short problem is input appeared in Nov but we are claiming it in Dec is there any issue?
16 January 2021
No issue you can claim it in December.
16 January 2021
But return tabs are getting red with a message that you are exceeding limit of rule 36(4)..
16 January 2021
Actually you are not exceeding. You are availing only the last month unavailed. Ignore the warning.
17 January 2021
You have to do month on month reconciliation (cumulative) of ITC as per books and as per 2A/2B.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- GST on export of services and Input Credit
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- TDS U/S. 194NF
- ITC temporary reversal and reclaim
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- Applicable TDS rate for sale of property in Nov 2024
- Should I report my US salary for January, February, March in Schedule FA?
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
Trending Online Classes
CAclubindia
