Rajat aggarwal (student) (36 Points)
19 February 2020
Deepak Gupta
(CA Student)
(15922 Points)
Replied 19 February 2020
w.e.f. 01.01.2020, you can claim ITC as follows:
A) Total eligible ITC as per books of accounts
B) Eligible ITC as per GSTR-2A (i.e. the ITC of those invoices which are getting reflected)
C) Provisional Credit: 10% of B (before 01.01.20 20%)
D) Total eligible ITC that can be claimed: B+C
(Note: If, D>A, then C will be reduced to that extent since D cannot exceed A)
You can claim the balance ITC in the succeeding months after the pending invoices start reflecting in your GSTR-2A, as and when filed by your supplier.
https://www.cbic.gov.in/resources//htdocs-cbec/gst/circular-cgst-123_New.pdf
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