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If invoice received after balance sheet can we take gst credit

Shiva Dubey (166 Points)

10 July 2023

if invoice received after balance sheet can we take gst credit

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14 Replies

prasad Nilugal ( GST Practitioner & Accounts ) (14811 Points)
Replied 10 July 2023

What is the date of Invoice ?. pertaining to which financial year?.

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Shiva Dubey (166 Points)
Replied 10 July 2023

22 December 22

prasad Nilugal ( GST Practitioner & Accounts ) (14811 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 ) (14811 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...!!!") (128096 Points)
Replied 10 July 2023

Is this reflect in GSTR 2b...???

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sabyasachi mukherjee (27603 Points)
Replied 10 July 2023

After the date of balance sheet . say 31st mar. . we cannot take such credit provided the delivery order is initiated earlier.

Shiva Dubey (166 Points)
Replied 10 July 2023

Prasad sir thank you

prasad Nilugal ( GST Practitioner & Accounts ) (14811 Points)
Replied 11 July 2023

Welcome and please confirm with others also . .

Shiva Dubey (166 Points)
Replied 11 July 2023

Rapa jee . yes it is reflecting in 2b

Sabyasachi jee: yes the same auditor told me

prasad Nilugal ( GST Practitioner & Accounts ) (14811 Points)
Replied 11 July 2023

What about section 16(4) ? , noting is written in theb CGST Act regarding delivery order .

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prasad Nilugal ( GST Practitioner & Accounts ) (14811 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...!!!") (128096 Points)
Replied 11 July 2023

@ Mr Shiva Dubey,

As per Mr Prasad Nilugal,

Take Your ITC as per GSTR 2b...

ITC can be taken for the month of Sep23...

But,
Note the said invoice ITC shown which month's GSTR 2b...