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Gst credit 26 July

ITC / Input 188 views 2 replies
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143 Points Posted on 23 July 2018
GST council declared ITC refund for spinning to weaving to trading from 27 July

what should be treatment for credit lying up to 26 July

can we claim ITC credit as on 26 July for sales onwards


Thanks

Tejas M Gandhi CA
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On 23 July 2018 at 11:43 Report
Replies (2)
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71 Points Posted on 23 July 2018
Refund of the accumulated ITC shall be allowed on prospective basis i.e. on the purchases made after the notification.
So credit lying would be considered as expense.
And we can claim ITC credit in respect of purchases made after notification issued
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On 23 July 2018 at 12:31
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64 Points Posted on 23 July 2018
Credit can be taken only after the issuance of Notification.
Reply
On 23 July 2018 at 14:04


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