TMI BlogGST under reverse chargeX X X X Extracts X X X X X X X X Extracts X X X X ..... GTA Services, Legal Services etc. received in the financial year 17 18 but GST under reverse charge paid on it in the financial year 19 20 with interest. Self-Invoice for the same also prepared for the same in 19 - 20 Can ITC be claimed on it now in the month of March 20? - Reply By Rajagopalan Ranganathan - The Reply = Sir, According to Section 18 (2) of CGST Act, 2017 a registered pe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rson shall not be entitled to take input tax credit under sub-section (1) in respect of any supply of goods or services or both to him after the expiry of one year from the date of issue of tax invoice relating to such supply Since you have prepared the invoice in 19-20 (exact date of invoice is required) you can take the credit upto 20.10.2020 (last date for filing the return for September ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2020). - Reply By Amit Ruia - The Reply = In my view, self invoice only if the supplier of service is unregistered otherwise not. So if such service is supplied by registered supplier, still the Invoice date is date of invoice issued by supplier and reflected in GSTR-2A of recipient I think. - Reply By KASTURI SETHI - The Reply = The basic document for availing ITC of tax paid under RCM o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n inward supplies from a registered supplier is a tax Invoice issued by the registered supplier. In case of supplies from an unregistered supplier, ITC is available on the basis of the self-invoice raised by the registered recipient/buyer on self as required under Section 31(3)(f) of the CGST Act, 2017 . In both the situations the date of invoice is also crucial. - Reply By KASTURI ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... SETHI - The Reply = Under RCM, the date of invoice and date of payment in cash both are integrated for the purpose of availment of ITC and time limitation. - Reply By CAVenkataprasad Pasupuleti - The Reply = The self invoice is the invoice u/s. 31 of CGST Act, 2017 time limit u/s. 16(4) links with the date of invoice not date of transaction. Hence, in your case, the time limit is 20. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 10.2020 for the self invoice raised in FY19-20. - Reply By KASTURI SETHI - The Reply = Right advice by Sh.CAVenkataprasad Pasupuleti Ji. - Reply By Kailash Garg - The Reply = If liability pay through DRC 3 then Not claim of ITR - Reply By KASTURI SETHI - The Reply = DRC-03 is not a prescribed document for availing ITC under Rule 36 (1) of CGST Rules, 2017 . - GST under reverse ch ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... arge - Query Started By: - Kaustubh Karandikar Dated:- 4-3-2020 Goods and Services Tax - GST - Got 8 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
|
