08 January 2021
Input Tax Credit (ITC) available when goods received – When do we receive? My question is : Order placed for material on 30 March 2018 but material received on 10April 2018, accordingly I have claimed the input in April. But the entry in 2A reflects in March2018. Which I have not shown in 2017-18 annual return as input claim in 2018-19. Because input I have claimed when the goods received. Now I am filling annual return for 2018-19 and it shows excess ITC claimed as compared to 2A with the same amount of March order received in April. Do we need to pay tax or my ITC claim is correct?