Kanhu charan dssh (Accountant) (38 Points)
22 October 2021
debora M
(BUSINESS DEVELOPMENT MANAGER)
(1697 Points)
Replied 22 October 2021
To claim ITC, the buyer should pay the supplier for the supplies received (inclusive of tax) within 180 days from the date of issuing the invoice. If the buyer fails to do so, the amount of credit they would have availed, will be added to their output tax liability.
The ITC shall be available as per the invoices uploaded by respective suppliers either in their GSTR-1 or by using the Invoice Furnishing Facility (IFF). 2. The recipients can claim provisional input tax credit in GSTR-3B to the extent of 5% instead of earlier 10% of the total ITC available in GSTR-2B for the month
Rajendra Prasad
(Employee Private)
(1867 Points)
Replied 23 October 2021
CAclubindia
