When input tax credit available ? If material despatch by supplier dtd 29.11.2018 & material received dtd 04.12.2018 by recipient ? when we take credit of itc in gst regime.
04 December 2018
But as per latest judgement, say's we can take credit on invoice date.if material despatch on FOR basis :
SUPREME COURT JUDGEMENT
In Manwar Tent Factory v. UOI AIR 1990 SC 1735, it was held that when contract stipulates for delivery of goods F.O.R. basis at place of despatch, risk passes from consignor to consignee as soon as goods are loaded at the place of despatch. Thus, transporter is Agent of buyer for the purpose of collection of goods and Bailee for the purpose of transportation goods from supplier place to buyers place . Hence, in my opinion, delivery to transporter is delivery to agent (on the direction of the registered person/ recipient ) and ITC can be taken even if goods do not physically reach the place of registered person.
Conclusion
Therefore, recipient / buyer must take input GST credit on delivery to transporter by supplier on the direction of the registered person/ recipient and Accordingly , the supplier is required to upload the tax invoices issued in a particular month in the particular month Return- GSTR -1 and recipient must take input GST credit in the particular month Return- GSTR-3B. In case of non-receipt of goods from Transporter due to lost in any way, there should be reversal of input GST Credit before filing of GST Annual Return.
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