Suresh Jain (proprietor) (177 Points)
05 March 2018Sir, 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
Mondira Saha
(GST)
(3925 Points)
Replied 05 March 2018
Suresh Jain
(proprietor)
(177 Points)
Replied 05 March 2018
Mam , we will make payment of this invoice to party on 10th March,
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 05 March 2018
If you are received the material on march then you can avail the ITC on March...
Manu Kumar Rana
(New Updates )
(358 Points)
Replied 05 March 2018
| Originally posted by : Suresh Jain | ||
 |
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. ??
|
 |
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.
Mondira Saha
(GST)
(3925 Points)
Replied 05 March 2018
sujith kumar dasa
(banglore)
(1496 Points)
Replied 05 March 2018
prasad Nilugal
( GST Practitioner & Accounts )
(14801 Points)
Replied 06 March 2018
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
Suresh Jain
(proprietor)
(177 Points)
Replied 06 March 2018
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.
CAclubindia
