Hwo to take ITC of input .
This query is : Resolved
27 September 2019
from April-2019, I do not take any ITC of input GST on commission / service fees / telephone charges of zomato,swiggy,and dunzo party. now I want to take ITC ( input GST) from April-19 to September-19 . so, how i can take these credit .and please say me which entry i can enter in the tally.
27 September 2019
The GST credit can be taken on or before 30th September of the succeeding financial year or filing of annual return which ever is earlier. Hence you are eligible to take GST credit for April to Sep 19.
We assume that at the time of passing original entry , you have accounted the total amount into expenses ( Basic + GST). Now you are taking GST credit. Hence the CGST/ SGST/ IGST is to be debited and the concerned expenses which was original debited to be credited to the extent of GST amount.
We assume that at the time of passing original entry , you have accounted the total amount into expenses ( Basic + GST). Now you are taking GST credit. Hence the CGST/ SGST/ IGST is to be debited and the concerned expenses which was original debited to be credited to the extent of GST amount.
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