Sirs, the date of applicability of GST Rule 36(4) is 09.10.19, whether all ITC can be taken for the period from 01.10.19 to 09.10.19 as per ledger or as per GSTR-2A?
3 Replies
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 15 November 2019
Yes... But, Condition is also the same previous condition..
Pankaj Rawat
(GST Practitioner)
(55052 Points)
Replied 16 November 2019
Yes can be taken , but if the same is reflected in 2A , you need to deduct ,the same from total of 2A for computing 20% margin
CA Pranav Mishra
(241 Points)
Replied 17 November 2019
Circular states that the restriction would apply only on the invoices / debit notes on which credit is availed after 09.10.2019. Hence the application of the restriction is qua the date of availment of ITC and not qua the date of the invoice for which ITC has been availed. Therefore returns filed after 09.10.2019 would be subject to the said sub-rule as ITC can be availed only through the returns.
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