If Suppliers didn't send invoice in f.y. 2017-18 , but now his invoice is reflecting in our gstr 2A of that particular period , Neither we make any kind of payment of that invoice nor he demand yet....... now what to do???? shall we take set off of that invoice in MAR-19 as there has a last chance to settled all the queries regarding 2017-18 ??????
4 Replies
CA. Abhishek Kumar Maurya
(ACA)
(490 Points)
Replied 11 April 2019
Yes you can... however you need to reverse ITC if payment not made within 6 months.
NARENDRA
(ACCOUNTS MANAGER)
(1994 Points)
Replied 11 April 2019
Txs. Sir...... my another queries regarding this......, whether income Tax Department send legal notice for not booked purchase in 2017-18 ?? .... ..
CA Ankit Garg
(MD | Genuine Filings)
(781 Points)
Replied 11 April 2019
They won't as you omitted to include expense in your books and paid tax on higher income. Now, you can book such expense in current financial year & claim GST, subject to conditions prescribed in GST Acts, but you can't use such expense for reducing your tax liability, in other words, prior period expenses are not allowed as per Income Tax Act.
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