invoice recd late
Sonu Khandare (18 Points)
10 February 2018
purchase invoice recd after 3 months. can I take credit in the current month? upto how many months I can take input credit?
2 Replies
RAJA P M
("Do the Right Thing...!!!")
(128101 Points)
Replied 10 February 2018
Input Tax Credit under GST – Conditions To Claim
A registered person will be eligible to claim Input Tax Credit (ITC) on fulfillment of the following conditions:
Possession of a tax invoice or debit note or document evidencing paymentReceipt of goods and/or servicesgoods delivered by supplier to other person on the direction of registered person against a document of transfer of title of goodsFurnishing of a returnWhere goods are received in lots or installments ITC will be allowed to be availed when the last lot or installment is received.Failure to the supplier towards supply of goods and/or services within 180 days from the date of invoice, ITC already claimed will be added to output tax liability and interest to paid on such tax involved. On payment to supplier, ITC will be again allowed to be claimedNo ITC will be allowed if depreciation have been claimed on tax component of a capital goodIf invoice or debit note is received after:the due date of filing return for September of next financial year
or
filing annual return
whichever is later
No ITC will be allowed
9. Common credit of ITC used commonly for
Have you filed your GSTR-1 yet?
File GSTR-1 Now!
File now under 15 minutes through ClearTax GST
Effecting exempt and taxable suppliesBusiness and non-business activity
Credit will be allowed according to the RULES
A registered person will be eligible to claim Input Tax Credit (ITC) on fulfillment of the following conditions:
Possession of a tax invoice or debit note or document evidencing paymentReceipt of goods and/or servicesgoods delivered by supplier to other person on the direction of registered person against a document of transfer of title of goodsFurnishing of a returnWhere goods are received in lots or installments ITC will be allowed to be availed when the last lot or installment is received.Failure to the supplier towards supply of goods and/or services within 180 days from the date of invoice, ITC already claimed will be added to output tax liability and interest to paid on such tax involved. On payment to supplier, ITC will be again allowed to be claimedNo ITC will be allowed if depreciation have been claimed on tax component of a capital goodIf invoice or debit note is received after:the due date of filing return for September of next financial year
or
filing annual return
whichever is later
No ITC will be allowed
9. Common credit of ITC used commonly for
Have you filed your GSTR-1 yet?
File GSTR-1 Now!
File now under 15 minutes through ClearTax GST
Effecting exempt and taxable suppliesBusiness and non-business activity
Credit will be allowed according to the RULES
Akash Verma
(188 Points)
Replied 10 February 2018
Yes, credit can be availed.
Time limit:
Earliest of:
due date of september month return of next financial year or
actual date of filing Annual return.
Hence credit can be availed.
Time limit:
Earliest of:
due date of september month return of next financial year or
actual date of filing Annual return.
Hence credit can be availed.
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