Sir,
we have yet not claimed ITC petering to January 2020. same claimed in GSTR 3B May 2020. please advise below entry in books of account correct
Purchase account. Dr.Rs. 12000
IGST input Dr. Rs.2160
Party account cr. 14160
ITC not availed Rs. 2160 dr (current assets)
IGST input. Rs. 2160 Cr.
In May 2020
IGST input Dr. 2160
ITC not availed Cr 2160
Dear Naveen.
Entry for ITC claimed in May 2020 of Jan -20 can be pass in books of accounts as below:
in Fy 2019-20
Pending IGST input ....Dr
To IGST input..... Cr
But as such you are not required to pass any entry for the same , because the ITC claimed as per books in comparison to GSTR 3B is excess by Rs.2160/- , so just prepare Reconciliation statement as it is finally Claimed in Next FY in month May-20
CAclubindia
