Input Tax Credit Under Reverse Charge

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..... Dear Experts, My Client has paid GST under Reverse Charge in the month of July. whether i will get credit in the month of July itself or in Subsequent Period i.e in August???? - Reply By RAMESH PRAJAPATI - The Reply = Credit is available in the same month. In fact, while filing return, your client will be directed to claim ITC by the system itself. Nothing to worry. - Reply By KASTURI SETHI .....

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..... - The Reply = In other words, virtually no such sword for causing loss of ITC exists. - Reply By MARIAPPAN GOVINDARAJAN - The Reply = It is the common opinion that the input tax credit on reverse mechanism is available on the same month itself. - Reply By Himansu Sekhar - The Reply = July itself - Reply By Ganeshan Kalyani - The Reply = The Institute of Chartered Accountants of India, Ne .....

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..... w Delhi has written suggestion seeking clarification on the subject that whether input tax credit of the tax paid under reverse charge is available in the same month or not. Yes, all are suggesting that credit can be taken in the same month. Also the Commercial Tax Officer has opined that credit can be taken in the same month. But my contention is why there is no clarificatory notification on t .....

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..... his. - Reply By KASTURI SETHI - The Reply = It is a matter of common knowledge that ITC on GST paid and utilised in course or furtherance of business cannot be denied. Two basic conditions are fulfilled . That is O.K. Act is very much clear. - Input Tax Credit Under Reverse Charge - Query Started By: - Shreyansh Agrawal Dated:- 15-9-2017 Goods and Services Tax - GST - Got 6 Replies - GST - .....

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..... Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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