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Availed IGST Credit One Month prior, Goods and Services Tax - GST

Issue Id: - 114203
Dated: 3-10-2018
By:- Bhavana Phulsundar
Availed IGST Credit One Month prior

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We paid IGST on Import. Ideally i should claim IGST as input in a month of bill of Entry i e Oct 17. I Wrongly claim it in the month of Sept 17. I filed return Till Sept 17. Oct Return is still to be submitted. What remedy is available for. Should i adjust it in next month Credit (Claim that much less credit) or can i claim full credit and reverse it below in reversal.

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Showing Replies 1 to 3 of 3 Records

1 Dated: 3-10-2018
By:- Yash Jain

Dear Sir,

ITC can be claimed in accordance with Sec 16 and rules as being prescribed thereof.

In order to avail ITC, you should have Invoice/Goods. In case if you have claimed credit prior to its accrual then per se it is not in accordance with prescribed rules.

Hence reverse the ITC in month of Oct (Ineligible Credit) and also take credit in month of October (Under import of Goods/Services).

Comments from esteemed members highly solicited.


2 Dated: 4-10-2018

You have to reverse the credit as advised by Shri Yash

3 Dated: 5-10-2018
By:- Ganeshan Kalyani

In my view, the credit can be claimed in Sept month if the tax is paid in the same month.


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