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credit of tax

Shail Shah (Student CA Final ) (142 Points)

27 May 2017

suppose i am supplier and i am supplying goods on 28th june 2017 and recipient receives the goods on 5th july so how can the tax credit can be taken and how my outwards and recipient inward will going to match

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8 Replies

Studentsca (CA Practice ) (3577 Points)
Replied 27 May 2017

What is your date of invoice and the date in which you received payment for those goods??

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Shail Shah (Student CA Final ) (142 Points)
Replied 27 May 2017

my date of invoice is 28th june itself

Shail Shah (Student CA Final ) (142 Points)
Replied 27 May 2017

the goods has been received by recipient on 5th july payment has been made on 5th july

Studentsca (CA Practice ) (3577 Points)
Replied 27 May 2017

As per Section 12 of CGST Act 2017 time of supply of goods is earlier of the following a) Date of invoice issued by the supplier or the last day on which he is required to do so under section 31(1) or b) date of receipt of payment Hence in your case 28 th June or 5 th July whichever is earlier. So 28th June.

Shail Shah (Student CA Final ) (142 Points)
Replied 27 May 2017

but credit is available on the same or not? n what will be the treatment

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Studentsca (CA Practice ) (3577 Points)
Replied 27 May 2017

Credit would be available subject to matching of invoices. The supplier making the outwars supply would show it in his details of outward supplies in GSTR-1 and the recipient would show supplies received in Form GSTR-2 and once details match credit would be available.

Shail Shah (Student CA Final ) (142 Points)
Replied 27 May 2017

but how it will going to match because the supplier will show it in outwards of june n reciepient will show the same in inwards of july so how it will be matched