GST under reverse charge

[Kaustubh Karandikar]

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?

AI Summary

Debate on ITC Eligibility for Services in 2017-18 Paid in 2019-20 Under Section 18(2) of CGST Act, 2017 A forum discussion focused on the eligibility of claiming Input Tax Credit (ITC) under the Goods and Services Tax (GST) for services received in the financial year 2017-18 but paid under reverse charge in 2019-20. Participants debated the applicability of Section 18(2) of the CGST Act, 2017, which restricts ITC claims to within one year from the invoice date. The consensus was that ITC could be claimed until October 20, 2020, if the invoice was prepared in 2019-20. The discussion also highlighted the importance of the invoice date and the conditions under which self-invoices are valid.