Dear sir
We have received invoice copies dated march month. But materials yet to receive.... Can we account these invoices in march month
Also if material is received before filing march returns, can we account in march
Kindly clarify
Thank you.
From accounting point of view, If invoice date is prior to 1st April and material received on or after 1st April upto management specified date (based on practices/policies) and inco terms are Ex-works, then it will form part of GIT.
from GST point of view, ITC can be availed after receipt of goods or services (sec.16) and other conditions as mentioned therein.
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