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ITC NOT RECORDED IN BOOKS OF ACCOUNT

AKMAL ANSARI (SENIOR ACCOUNTANT) (102 Points)

13 February 2023

I CLAIMED SOME ITC OF FY 21-22 IN RETURN AND ALSO SHOWN IN 2A BUT FORGET TO RECORD IN BOOKS AND BOOKS AND AUDIT OF BOOKS HAS BEEN DONE..CAN I CLAIMED OR NOT

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19 Replies

prasad Nilugal ( GST Practitioner & Accounts ) (14803 Points)
Replied 13 February 2023

1) What is the date of Invoice? you have not entered in books of accounts
2) In which month you have claim ITC in GSTR3B ?.

4 Like

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AKMAL ANSARI (SENIOR ACCOUNTANT) (102 Points)
Replied 13 February 2023

Expenses Booked but ITC not separated in ledger in March 22 but ITC calimed in same month on bill basis.

4 Like

prasad Nilugal ( GST Practitioner & Accounts ) (14803 Points)
Replied 13 February 2023

What is the exact date of the Invoice ? .

4 Like

AKMAL ANSARI (SENIOR ACCOUNTANT) (102 Points)
Replied 13 February 2023

31 March 22 of service bill

3 Like

prasad Nilugal ( GST Practitioner & Accounts ) (14803 Points)
Replied 13 February 2023

To claim input tax credit, you have to fullfill following conditions in section 16 (2) of the CGST Act .

1) You must have valid TAX Invoice with correct GSTN

2) You must received Goods or services

3) Supplier must deposit GST collected from you in Govt Account

4) You must filled all updated returns.

from 1.1.2022 , one more condition was added that , ITC must reflect in GSTR2B in order to claim ITC , however in your Case ITC reflected in GSTR2A

Also ITC should not be under Blocked credit under section 17(5) of the CGST Act.

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CA Rashmi Gandhi (Chartered Accountant) (86323 Points)
Replied 13 February 2023

Rectifiy the entry in current year

4 Like

CA Altamush Zafar (GST Consultant) (15971 Points)
Replied 13 February 2023

Legally speaking ITC will be denied

CA Rashmi Gandhi (Chartered Accountant) (86323 Points)
Replied 14 February 2023

ITC will not be denied merely expenses are recorded in books with taxes.

1 Like

CA Altamush Zafar (GST Consultant) (15971 Points)
Replied 14 February 2023

@ CA Rashmi Gandhi

Are you really a CA or are you taking it like your other fake accounts?

It's not just books of accounts it's audited books of accounts. Moreover audited books of accounts are clear evidence of transactions accepted in court of law. Expensing the input tax by the taxpayer himself and then getting it audited is valid proof that he is not accepting input tax credits.

At most he can revise his books of accounts and revise audit report if at all other laws permit then only he will be able to claim ITC legally.

2 Like