Availed IGST Credit One Month prior

[Bhavana Phulsundar]

Sir

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.

AI Summary

Mistaken IGST Credit Claim? Reverse in October and Reclaim as Per Section 16 Rules for Compliance. A user inquired about mistakenly claiming IGST credit a month earlier than entitled, seeking advice on rectifying the error. One respondent advised reversing the incorrect ITC in October and correctly claiming it then, as per Section 16 rules. Another agreed with this approach, while a third suggested that if the tax was paid in September, the credit could be claimed then. The discussion centered on ensuring compliance with GST regulations for input tax credit claims.