We are an LLP organisation. I have received a purchase bill of December 2021 month in the month of February, 2022. The bill date is 20/12/2021 and received for entry on 22/02/2022. My question is what date should i consider the purchase bill for i.e should i entry in the month of December, 2021 as on 20/12/2021, or can i enter in the current month i.e in the month of February, 22/02/2022.
As far as my knowledge is concern, i can enter it in the month of December, 2021 as i can claim the ITC till the filling of Annual return for Financial Year 2021-22.
22 February 2022
Sir, if goods are not received in December month but in February month, then what will be the month to account it. Does the accounting depend on the receipt of goods. Then what is the point that we can take the ITC credit till the Annual return filling. I think that it should not make a difference, whether i account the invoice in the month of december 2021 or in month of february, 2022, as i am accounting it in the same financial year i.e 2021-22. Please provide me the web link if there is clarification for the same. Please answer.
22 February 2022
Yes, accounting required receipt of goods then only it can be taken to stock. Take ITC in the month of receipt of goods that one of the condition to take ITC.
CAclubindia
