Please correct me.
I have made purchase from a dealer who declared his GST number in bill.
but the records he is regular defaulter in return filing.
hence i decided not to avail ITC and booked purchase to full invoice value.
Hope this is ok
5 Replies
CA Naveen Chand
(Chartered Accountant)
(12729 Points)
Replied 23 November 2019
ITC can be availed on the basis of self assessment.
However , where supplier fails to put invoices in GSTR_1 or entered the invoices but failed to file the return so input can be availed upti 20% of total eligible input
Sivaramaraju G
(Learner)
(2398 Points)
Replied 23 November 2019
Then why you are purchasing from him??
sundaram
(finance manager)
(42 Points)
Replied 23 November 2019
my question is ITC availment is optional or not.
I can show full value of invoice as expenses and not availing ITC.
JATIN DUGGAL
(CHARTERED ACCOUNTANT IN PRACTICE)
(406 Points)
Replied 23 November 2019
Yes you can book full value of invoice as expense and not avail ITC. Availing ITC is your Right as per LAW and its depend on you whether you want to avail or not.
In the light of explained factual position, it is suggested you not avail ITC of such invoice
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