one by mistake reverse itc in 17-18 and file annual return with same . now can he reclaim same itc for 18-19 as he found the itc he reversed wrongly and wants to utilize same itc by reclaiming now.
4 Replies
CA SANDESH MAHIPAL
(Practicing in GST and MSME )
(1985 Points)
Replied 07 June 2020
If ITC was reversed as per proviso to section 16(2), then, ITC can be claimed. The time limit of section 16(4) will not be applicable in this case.
Pankaj Rawat
(GST Practitioner)
(55052 Points)
Replied 07 June 2020
No.... you cannot .
you can reclaimed ITC of Fy 2017-18 only , when it is being Reversed due to Non payment of Supplier & now you have paid the same .
you can reclaimed ITC of Fy 2017-18 only , when it is being Reversed due to Non payment of Supplier & now you have paid the same .
harendra
(worker)
(46 Points)
Replied 09 June 2020
Thanks to all for replying
GST-ITC claim/reclaim is always a major issue and related person has to face
Recent Topics
- ITC CLAIM In November 2024
- Loans principal payment query in balance sheet
- E Invoice Requirement Above 10 Cr TO Latest regula
- If I hire a sales rep on commission only basis wit
- E-INVOICE IS MANDOTARY OR NOT FOR SELLING EXEMPTED
- ADVANCE ADJSUTMENT
- TDS ON METAL SCRAP THRESHOLD LIMIT
- Capital gain tax for property before 23rd July 202
- UDIN Generation date
- LIC Bima Sakhi Yojana
Related Threads
Trending Online Classes
-
6 days Certification Course on GST Practical Return Filing Process
CA Pratibha Goyal16 December 2024
CAclubindia
