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

Eligibility of Claiming ITC on Late Invoices: Understanding GSTR-1, GSTR-3B, and Extra 10% ITC for 2019-20. A participant in a discussion forum raised a query about the eligibility of a buyer to claim Input Tax Credit (ITC) on invoices from March 2020, which were uploaded late in June 2020's GSTR-1 and taxes paid in May 2020's GSTR-3B. Responses indicated that the ITC would appear in the buyer's GSTR-2A for the 2020-21 period, not 2019-20. However, the buyer could still claim ITC before October 20, 2020. Additionally, under current rules, the buyer could claim an extra 10% ITC beyond what is reflected in GSTR-2A for 2019-20.