Availability of ITC

[KARAN VERMA]

Sir

I have forgot to upload detail of March ,2020 invoices in GSTR-1. Then, in first quarter I have uploaded detail in GSTR-1 (June month) 2020 and paid taxes in GSTR-3B May month.

Whether buyer is legally allowed to take ITC and whether such invoice reflect in Buyer GSTR-2A for 2019-20.

[KASTURI SETHI]

In this scenario, ITC will be reflected in 2 A during the year 2020-21 and NOT in 2019-20.

[KARAN VERMA]

ok sir but whether buyer is eligible to take input tax credit.

[KASTURI SETHI]

Yes. You can take but before 20.10.20.

[Ganeshan Kalyani]

Yes, the buyer is eligible to take credit.

[KARAN VERMA]

I will asked buyer to download June month GSTR-1 copy and take ITC in September month return.

[Bhavika Chothani]

This invoice will reflect in 2A of 2020-21. As per the latest rule where the buyer is allowed to take additional 10% ITC apart from what is there in GSTR-2A. Your buyer can take the ITC of this invoice in 2019-20, if it fits in this additional 10%

AI Summary

Input tax credit timing: late supplier filing delays 2A appearance, but buyer may still claim under additional allowance. Late supplier filing in GSTR 1 causes the invoices to appear in the buyer's GSTR 2A in the period when the supplier filed; the buyer may still claim Input Tax Credit if statutory conditions and the prescribed temporal limitation are satisfied, and may use the available additional allowance to claim credit beyond entries in GSTR 2A where that allowance applies, subject to meeting documentary and return compliance.