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Availability of ITC, Goods and Services Tax - GST |
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Availability of ITC |
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Sir I have forgot to upload detail of March ,2020 invoices in GSTR-1. Then, in first quarter I have uploaded detail in GSTR-1 (June month) 2020 and paid taxes in GSTR-3B May month. Whether buyer is legally allowed to take ITC and whether such invoice reflect in Buyer GSTR-2A for 2019-20. Posts / Replies Showing Replies 1 to 6 of 6 Records Page: 1
In this scenario, ITC will be reflected in 2 A during the year 2020-21 and NOT in 2019-20.
ok sir but whether buyer is eligible to take input tax credit.
Yes. You can take but before 20.10.20.
Yes, the buyer is eligible to take credit.
I will asked buyer to download June month GSTR-1 copy and take ITC in September month return.
This invoice will reflect in 2A of 2020-21. As per the latest rule where the buyer is allowed to take additional 10% ITC apart from what is there in GSTR-2A. Your buyer can take the ITC of this invoice in 2019-20, if it fits in this additional 10% Page: 1 Old Query - New Comments are closed. |
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