itc taken or not
Saurabh Kumar (116 Points)
27 April 2018
still we can take itc of apr may june 17 quater or not and how? plz clear
3 Replies
CA Padmasri Manyam
(CA in Practice)
(1340 Points)
Replied 27 April 2018
The credit for the the quarter Apr to June 2017 should have been taken in the Form GST Tran-1 (Transitional credit). The due date for submitting the Form has been expired. No option to submit Tran-1 now.
In case the value of input tax credit is substantial you can take in Form GSTR-3B in Table 4 (all other ITC). However, the proper officer may object the same during assessment. If you can establish that the Form GST Tran-1 was not filed or filed without considering the said credit, due to valid reasons, they may allow the credit.
CA Padmasri Manyam
(CA in Practice)
(1340 Points)
Replied 27 April 2018
The credit for the the quarter Apr to June 2017 should have been taken in the Form GST Tran-1 (Transitional credit). The due date for submitting the Form has been expired. No option to submit Tran-1 now.
In case the value of input tax credit is substantial you can take in Form GSTR-3B in Table 4 (all other ITC). However, the proper officer may object the same during assessment. If you can establish that the Form GST Tran-1 was not filed or filed without considering the said credit, due to valid reasons, they may allow the credit.
CA Naveen Chand
(Chartered Accountant)
(12729 Points)
Replied 27 April 2018
YOU HAVE TO C/F THE ITC VIA TRAN-1
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