Ad-Free CAclubindia and Daily Updates on your mobile. Subscribe Now!

ITC claim

vipul kumar (Working for ca firm) (79 Points)

26 May 2018

I applied for gst reg at 6 may 2018 and got it GSTIN at 15 may 2018 so can u tell me from when i m able to claim ITC of old bills which i had purchased before 15 may 2018 or i m not able to claim ITC of old bills which i had purchased before 15 may 2018.

Reply
Follow
Share

10 Replies

Jethmal Singhvi (Chartered Accountant-Practitioner) (140 Points)
Replied 26 May 2018

you can claim itc from the effective date of registration in RC.

Upgrade to CAclubindia Pro. Subscribe Now!

Vinod Babu (24191 Points)
Replied 26 May 2018

Yes, ITC can claimed on approved/effective date of GST registration.

Anirudh (Student) (299 Points)
Replied 26 May 2018

you can claim ITC of inputs which are there in stock as on 6 may 2018 even if bills are of prior date.

Vinod Babu (24191 Points)
Replied 26 May 2018

Yes, ITC can claimed on approved/effective date of GST registration.

Anirudh (Student) (299 Points)
Replied 26 May 2018

you can claim ITC of inputs which are there in stock as on 6 may 2018 even if bills are of prior date.

Upgrade to CAclubindia Pro. Subscribe Now!

vipul kumar (Working for ca firm) (79 Points)
Replied 26 May 2018

k mns i have to check my stock which i had on 6 may 2018.

Anirudh (Student) (299 Points)
Replied 26 May 2018

yes, you can avail ITC of gst paid for that stock

vipul kumar (Working for ca firm) (79 Points)
Replied 26 May 2018

k anirudh g so hv i ll to ask to seller for revised the invoice or not which i hv in stock on 6 may 2018.

Anirudh (Student) (299 Points)
Replied 26 May 2018

No revised invoices required, it should be clear from stock register that inputs pertaining to which invoice are lying in stock using FIFO.

vipul kumar (Working for ca firm) (79 Points)
Replied 26 May 2018

actually since dec i hv started my business anirudh g and this time my business is on very small scale that's why i don't maintain stock register. so to do sir