GSTR-2: Can ITC on July dated invoice be claimed in August.

[CAPurnima Bothra]

What if i dont carry invoice for the month of july ;can i still claim ITC in the July month itself on the same since it has auto populated in gstr-2A. Moreover as per CGST actsec 42 such transactions will be treated as matched.Now if I cant avail ITC in month of July how will I claim the same in august month?Will supplier has to modify his GSTR-1 in this case? It would be great if you could quote section or any website link relating to mismatch report /GST MIS.

[KASTURI SETHI]

Yes. You can claim ITC for July, 17 in August, 17. ITC can be claimed within one year from the date of invoice.

[Himansu Sekhar]

Being upon your acceptance it will be transferred to credit ledger. There is no bar for a delay

[KASTURI SETHI]

Supplier has not to modify GSTR-1. When you file your GSTR.2 mention the amount of eligible ITC against Serial no. 3 or against serial no. whichever is applicable to you. All will be auto corrected, when you file GSTR-3 (Final) return. Section 18(2) of CGST Act provides that ITC can be availed within one year from the date of tax invoice.

[Ganeshan Kalyani]

Matching concept is adopted for allowing input tax credit.

AI Summary

Input tax credit: claimable in a later month if within prescribed time limit and reconciled via GST returns. ITC on a July invoice can be claimed in a later month (e.g., August) provided the claim is made within the statute's prescribed time limit; Section 18(2) is cited allowing ITC within one year of the tax invoice. The recipient's acceptance transfers eligible amounts to the credit ledger, invoices auto-populated in GSTR-2A are reconciled under the matching regime, the recipient must report eligible ITC in GSTR-2 and reconciliation finalises on filing GSTR-3, and the supplier need not amend GSTR-1 for such a delayed claim.