Sir, We have excess balance (sufficient credit so no need for Cash Deposit of GST) in GST. One party issued invoice on 28 Feb 18 and we received the material on 5th March. Can we enter the invoice in Feb 18 so that it will effect in 3B of Feb 18. ??
Please suggest.
Suresh Jain
Mam , we will make payment of this invoice to party on 10th March,
If you are received the material on march then you can avail the ITC on March...
| Originally posted by : Suresh Jain | ||
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Sir, We have excess balance (sufficient credit so no need for Cash Deposit of GST) in GST. One party issued invoice on 28 Feb 18 and we received the material on 5th March. Can we enter the invoice in Feb 18 so that it will effect in 3B of Feb 18. ??
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HI S J ,
In the case make communication with the supplier to revise the tax invoice based on materials received dated & considered in march 2018 in future mismatch will not be happened of invoices.
A registerd taxable person can subject to following conditions avail credit of input tax paid by him on any inward supply received , to be used or intended to be used in business.
1) He must have tax Invoice with GSTN no.
2) He has received the goods or service
3) The tax charged for that supply has actually been paid to the government by the supplier .
4) The supplier must furnished retrun
Resp All,
Thanks for reply, Its established that we can not take credit in Feb since the material received in March.
Thank You all again.
You are Most welcome...
CAclubindia
