Dear Sir / Madam,
ABC Company is an Industrial construction company, running their business in Tamilnadu, doing multiple site projects in the state.
During March 2019, One of the site, purchase the goods value of Rs 13 lakhs including GST, however forget to produce the bill to Head office, while filing the March 2019 GST accountant couldn't find this Invoice in GSTR2A, Hence he filed the GST for Mar 2019. Later vendor filed the GST, now the Invoice reflect in GSTR2A.
Please confirm shall we show this in April 2019, if so ITC reconciliation will be having difference in FY 18-19, please clarify how to deal with this situation.
15 Replies
CA Altamush Zafar
(GST Consultant)
(15971 Points)
Replied 01 June 2019
Yes you can take credit in April 2019
Krishna
(Manager - Genesis Tax Consultant)
(531 Points)
Replied 01 June 2019
Thank you Sir, but my ITC reconciliation wouldn't match in FY 18-19, what is the trouble shoot for it sir.
CA Haritha Komma
(Chartered Accountant)
(1147 Points)
Replied 01 June 2019
2A Vs 3B difference should not be an issue. If ITC is availed on proper invoice that would suffice..
Pankaj Rawat
(GST Practitioner)
(55052 Points)
Replied 02 June 2019
@ Krishna
Yes you are correct you have to prepare the Reco statement for 2018-19, & 2017-18 , but there is no other way out .
Becuase Transaction reflected to Electronic Credit Ledger only by filing GSTR 3b ., ( you can show in annual return but from there also it will not get reflect to Credit Ledger)
Moreover As per Circular 26/26/2017 GST, can rectify any mistake in Subsequent month
Yes you are correct you have to prepare the Reco statement for 2018-19, & 2017-18 , but there is no other way out .
Becuase Transaction reflected to Electronic Credit Ledger only by filing GSTR 3b ., ( you can show in annual return but from there also it will not get reflect to Credit Ledger)
Moreover As per Circular 26/26/2017 GST, can rectify any mistake in Subsequent month
Krishna
(Manager - Genesis Tax Consultant)
(531 Points)
Replied 02 June 2019
Dear Sirs
Thank you for the Information.
To my understanding,
ITC reconciliation wouldn't match for FY 18-19, for the difference of amount we are going to mention it in Annual returns, even then there will be no change in the electronic credit ledger, Any how FY 18-19 Annual returns is one of the evidence because we are going to claim ITC for the Actual invoices in April 2019 only, due to this there will be a difference in FY 19-20 ITC reconciliation. We can show the FY 18-19 annual return is the supportive evidence for the difference in ITC reconciliation for FY 19-20
Am I right on understanding this subject?
Thank you for the Information.
To my understanding,
ITC reconciliation wouldn't match for FY 18-19, for the difference of amount we are going to mention it in Annual returns, even then there will be no change in the electronic credit ledger, Any how FY 18-19 Annual returns is one of the evidence because we are going to claim ITC for the Actual invoices in April 2019 only, due to this there will be a difference in FY 19-20 ITC reconciliation. We can show the FY 18-19 annual return is the supportive evidence for the difference in ITC reconciliation for FY 19-20
Am I right on understanding this subject?
Pankaj Rawat
(GST Practitioner)
(55052 Points)
Replied 02 June 2019
I dont how how you saying that there will be no reco for 18-19, when you are reporting March 19 bill in april 19.
As per books your purchase will more than filed in return .
Pankaj Rawat
(GST Practitioner)
(55052 Points)
Replied 02 June 2019
* I cant understand insead of i dont
Krishna
(Manager - Genesis Tax Consultant)
(531 Points)
Replied 02 June 2019
Dear Sir,
I didn't say no ITC recon for FY 18-19, for sure there will be a difference in ITC reconciliation, that difference would be mentioned in the Annual returns.
Missed Input tax in March 2019, would be shown in April 2019, hence FY 19-20 ITC reconciliation have difference, to justify that difference, Annual return of 2018-2019 would be the evidence, I presume.
please correct if I am wrong.
I didn't say no ITC recon for FY 18-19, for sure there will be a difference in ITC reconciliation, that difference would be mentioned in the Annual returns.
Missed Input tax in March 2019, would be shown in April 2019, hence FY 19-20 ITC reconciliation have difference, to justify that difference, Annual return of 2018-2019 would be the evidence, I presume.
please correct if I am wrong.
Pankaj Rawat
(GST Practitioner)
(55052 Points)
Replied 02 June 2019
Correct ...Yes , thats what i replied
Krishna
(Manager - Genesis Tax Consultant)
(531 Points)
Replied 02 June 2019
Thank you so much for clarification sir!
Krishna
(Manager - Genesis Tax Consultant)
(531 Points)
Replied 02 June 2019
Dear Sir,
Sorry to put some more question on this, we have filed the GST for Mar 2019, but later only we come to know we missed out one of the purchases, as discussed above ITC can be claimed in April 2019 and all justification we will provide to GST department.
My question here, if we are not showing that purchase in FY 18-19 then we are understating the purchases and our P&L shows high profit due to this, how to fix this issue?
Pankaj Rawat
(GST Practitioner)
(55052 Points)
Replied 02 June 2019
Sorry cannot fix such issues.
Yes can revised your balance sheet /p&l in ITR considering that bill.
Krishna
(Manager - Genesis Tax Consultant)
(531 Points)
Replied 02 June 2019
Thank you for all your support and your so patience in replying to all the queries sir!
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