TMI BlogEligibility of ITCX X X X Extracts X X X X X X X X Extracts X X X X ..... On the GST Portal in Return GSTR-2B of October'23 reflected the party Debit Note and bill dated 31-03-2023. We received soft copy of the debit note Rs. 35,000/- Plus GGST 3,150/- SGST 3,150/- for accounts entry on dated 23-11-2023. Can we avail Input Tax Credit of the same in the GSTR-3B return for the month of November 2023? - Reply By Madhusudan Mishra - The Reply = If it is reflect ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed in 2B of Oct TP then claim it in the 3B of Oct itself. - Reply By Amit Agrawal - The Reply = As per Section 16(2)(a) , tax-payer should be in possession of a tax invoice or debit note issued by a supplier registered under this Act, or such other tax paying documents as may be prescribed, before taking ITC. As tax-payer got possession of debit-note in Nov, 23 and entered the same in books ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of accounts of Nov, 23, he should take ITC against such debit-note in November, 23 only. If tax-payer is following Circular No. 170/02/2022-GST , then, such ITC will be shown while filing Table 4(A)(5) of Form GSTR-3B of October, 23, while simultaneously reversing the same under 4(B)(2) (i.e. others) and then, reclaim such ITC while filing GSTR-3B for the month of November, 23. These ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... are ex facie views of mine and the same should not be construed as professional advice / suggestion. - Reply By Amit Agrawal - The Reply = Kindly note that time restrictions u/s 16(4) against a debit note starts with date of such debit note and NOT with reference to date of original invoice. And my earlier post presumes that original invoice was dated 31.03.2023 while debit-note is da ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ted Oct, 23 which is received by the tax-payer on 23.11.2023. These are ex facie views of mine and the same should not be construed as professional advice / suggestion. - Reply By Padmanathan Kollengode - The Reply = Dear querist, What is the date of debit note? - Eligibility of ITC - Query Started By: - Kaustubh Karandikar Dated:- 23-11-2023 Last Replied Date:- 28-11-2023 Goods and Ser ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... vices Tax - GST - Got 4 Replies - GST - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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