If invoice received after balance sheet can we take gst credit
Shiva Dubey (166 Points)
10 July 2023Shiva Dubey (166 Points)
10 July 2023
prasad Nilugal
( GST Practitioner & Accounts )
(14801 Points)
Replied 10 July 2023
prasad Nilugal
( GST Practitioner & Accounts )
(14801 Points)
Replied 10 July 2023
As per section 16(4) of the CGST Act, you Can take credit invoice pertaining to F.Y 22-23, up to the date of return for the month of September 23 or Annual return which ever is earlier. please refer section 16(4) .
prasad Nilugal
( GST Practitioner & Accounts )
(14801 Points)
Replied 10 July 2023
Also you have to fulfil all conditions in section 16(2) of the CGST to avail ITC , and ITC should not be under blocked credit as per section 17(5) of the CGST Act amended till today .
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 10 July 2023
sabyasachi mukherjee
(27574 Points)
Replied 10 July 2023
prasad Nilugal
( GST Practitioner & Accounts )
(14801 Points)
Replied 11 July 2023
Shiva Dubey
(166 Points)
Replied 11 July 2023
prasad Nilugal
( GST Practitioner & Accounts )
(14801 Points)
Replied 11 July 2023
prasad Nilugal
( GST Practitioner & Accounts )
(14801 Points)
Replied 11 July 2023
You have to fulfil following conditions as per section 16(2) of the CGST Act to avail ITC .
1) you must have valid Tax invoice .
2) you must received the goods or services
3) You must deposit tax to govt account . collected from customer
5) you as a recipient should file all returns
6) your ITC should reflect in GSTR2B .
7) Your ITC should not be under Blocked Credit
If you fulfil above conditions , then as per section 16(4) time limit is given above in my first reply .
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 11 July 2023
prasad Nilugal
( GST Practitioner & Accounts )
(14801 Points)
Replied 11 July 2023
sabyasachi mukherjee
(27574 Points)
Replied 25 July 2023