ITC new rule in GST
surendra jain (91 Points)
12 November 2019
what will happen to quarterly return ITC .we have to wait for three months to claim ITC?
4 Replies
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 12 November 2019
Why...?
You can claim ITC as per bills. But, Consider the rule with quarterly...
Before that Follow Your suppliers for filling their returns.
You can claim ITC as per bills. But, Consider the rule with quarterly...
Before that Follow Your suppliers for filling their returns.
Surjeet Negi
(947 Points)
Replied 12 November 2019
You can claim the credit. however, the difference of credit available in PR and 2a would be restricted to 20%. so matching would be on tax period wise. Big task ahead.
santhosh
(accountant)
(128 Points)
Replied 12 November 2019
But it doesn't allow above120%
all purchases from Q R1 ,then no ITC
all purchases from Q R1 ,then no ITC
Surjeet Negi
(947 Points)
Replied 12 November 2019
Yes correct that why periodic matching would be required.
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