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Tax Invoice

shirish aurora (article assistant) (53 Points)

16 September 2017

invoice date is of august.
bill received along with goods in september.
when we will take ITC ?
In august or in september?
In which month GSTR 3B we will take ITC?

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8 Replies

RAJA P M ("Do the Right Thing...!!!") (128096 Points)
Replied 16 September 2017

You can use both ways...
But, after E-Way bill you can use after inwards...
So, you can follow the way now. When you received the goods that is your ITC month...

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venkateswararao (paid assistant) (132 Points)
Replied 16 September 2017

you take in the month of invoice date because in month of invoice your supplier will enter in gstr-1

venkateswararao (paid assistant) (132 Points)
Replied 16 September 2017

time of supply is earlier of invoice date or date of payment

Ashish Garg (Consultant - GST) (844 Points)
Replied 17 September 2017

In terms of section 16 of cgst act itc can availed after recipit of goods or service now in the said as you have not received the goods in August or therefore legally its not correct to

Ashish Garg (Consultant - GST) (844 Points)
Replied 17 September 2017

In terms of section 16 of CGST act ITC can be availed after the receipt of goods or services in the said case as the supply is not received in the month of August therefore you should keep that invoice on hold in GSTR - 2 of August month and take the credit in September.

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RAJA P M ("Do the Right Thing...!!!") (128096 Points)
Replied 17 September 2017

Yes. I agreed with Mr Ashish Garg...

CA Rashmi Gandhi (Chartered Accountant) (86323 Points)
Replied 17 September 2017

Take ITC after receipt of goods.

So ITC for same is availble in month of September.

Dip Narayan (Deputy Manager) (772 Points)
Replied 17 September 2017

Person taking credit has received goods and / or services . It shall be deemed that the taxable person has received the goods where goods are delivered by the supplier to a receipient or any other person on the direction of such taxable person whether acting as as agent or otherwise before or during the movements of goods either by way of transfer of documents of title to goods or otherwise.

Relevant section and Chapter:-

Chapter V of CGST Act section 16 to 21 of CGST Act

Chapter X of CGST Act , Section 43 of CGST Act

Chapter IX of CGST Act Section 41 of CGST Act.

It is better to take credit in the month of September