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ITC on GST

Dey (Sr. Accountant) (107 Points)

28 October 2018

Supplier invoices not present in GST R 2A; after continuous follow up by mail and phone call I unable to convince themselves to file GST R1 of bills from 01.07.2017 to 31.03.2018.

What could be done at this point of time? although as per notification return of last financial year need to be filed before 31.10.2018 without late fine.

Finally can I eligible to claim credit of those invoices already in our books of accounts not visible in GSTR- 2A?

Who is to be panalized whether supplier or purchaser?

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9 Replies

RAJA P M ("Do the Right Thing...!!!") (128091 Points)
Replied 28 October 2018

As per GST We can't avail ITC if invoices not reflected in GSTR 2A...

But, In current scenario no more details or way for its based ITC. So, Better to take ITC based on Invoice (Also check the Payment to Supplier).

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Shiva Gupta (Paid Assistant) (155 Points)
Replied 28 October 2018

Claim the input and kindly add the invoices in GSTR 2A...

rajni aggarwal (student) (137 Points)
Replied 29 October 2018

you have toh reverse you itc and deposit with interest because you had reduce your output liability and itc not in your return even one of condition of availing itc is that it is reflected in your return otherwise you not eligible to claim itc

RAJA P M ("Do the Right Thing...!!!") (128091 Points)
Replied 29 October 2018

You can avail the ITC benefits based on Your invoices. No need to reverse ITC if You have Invoice...

rajni aggarwal (student) (137 Points)
Replied 29 October 2018

Even though refer section 16 of CGST Act condition for availing ITC ( Below is the reference of section 16)

16. (1) Every registered person shall, subject to such conditions and restrictions as may be prescribed and in the manner specified in section 49, be entitled to take credit of input tax charged on any supply of goods or services or both to him which are used or intended to be used in the course or furtherance of his business and the said amount shall be credited to the electronic credit ledger of such person. (2) Notwithstanding anything contained in this section, no registered person shall be entitled to the credit of any input tax in respect of any supply of goods or services or both to him unless,–– (a) he is in possession of a tax invoice or debit note issued by a supplier registered under this Act, or such other tax paying documents as may be prescribed; (b) he has received the goods or services or both. Explanation.—For the purposes of this clause, it shall be deemed that the registered person has received the goods where the goods are delivered by the supplier to a recipient or any other person on the direction of such registered person, whether acting as an agent or otherwise, before or during movement of goods, either by way of transfer of documents of title to goods or otherwise; (c) subject to the provisions of section 41, the tax charged in respect of such supply has been actually paid to the Government, either in cash or through utilisation of input tax credit admissible in respect of the said supply; and (d) he has furnished the return under section 39:

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RAJA P M ("Do the Right Thing...!!!") (128091 Points)
Replied 29 October 2018

Oh Okay... Thank You for the Rules for posting HERE...

So,
Finally What You say here...??!

rajni aggarwal (student) (137 Points)
Replied 29 October 2018

You cant avail itc unless it is shown in your GSTR-2A , you can claim ITC only then if it is shown in your return otherwise you deposit itc availed with interest @ 18% from the date you taken ITC Otherwise there are penalty for the same

RAJA P M ("Do the Right Thing...!!!") (128091 Points)
Replied 29 October 2018

Originally posted by : rajni aggarwal
	You cant avail itc unless it is shown in your GSTR-2A , you can claim ITC only then if it is shown in your return otherwise you deposit itc availed with interest @ 18% from the date you taken ITC Otherwise there are penalty for the same

As per GST We can't avail ITC if invoices not reflected in GSTR 2A...

But, In current scenario no more details or way for its based ITC. So, Better to take ITC based on Invoice (Also check the Payment to Supplier).

Read more at: https://www.caclubindia.com/forum/details.asp?quote=1957773&mod_id=490268&offset=1#reply