ITC Eligibility and Classification in GSTR 3B

[Pradeep Singhi]

In case of Bulider, Credit is reflected in GSTR 2A after occupancy certificate.

1) Whether ITC is eligible for the invoices received after occupancy certificate?

2) If we don't want to take the ITC than how credit reflected in GSTR 2A to be shown in GSTR 3B?

AI Summary

Understanding ITC Eligibility in GSTR 3B for Builders: Handling Invoices Post-Occupancy Certificate and Proportioning Pre-OC Purchases A discussion on a forum addresses the eligibility and classification of Input Tax Credit (ITC) in GSTR 3B for builders, particularly concerning invoices received after the issuance of an occupancy certificate (OC). The main issue is whether ITC is eligible for such invoices and how to reflect it in GSTR 3B if not claimed. Responses suggest ITC should be proportioned based on sales liable to GST if procurement occurred before OC. If procurement is post-OC, credit should be reversed. For non-claimed ITC, it should be shown in 'All other ITC' and reversed accordingly in GSTR 3B.