ITC on Goods received in different F.Yr

[VIGNESH]

Sir 1. Bill was raised on march 2020 but goods received & accounted in books on june 2020 as it was lockdown and ITC for the same was claimed

2.The above transaction was not reflected in GSTR-9 of financial year 2019 -20! Yet can we claim In 2020-2021 sir?

3. While Filing GSTR-9 for F.Yr.2020-21 can this be shown in GSTR 9? if yes under which table?

[KASTURI SETHI]

You have no other option except to show in the year 2020-21. Reflect it in a routine way under Table no. 4 of GSTR-9.

[Shilpi Jain]

Invoice of 2019-20 you can max claim it by sep'20 return due date. If claimed by then, you can show it in GSTR-9 of 2019 20 itself in part 5.

AI Summary

Input tax credit timing: claim in the year of receipt or, if within return due date, in earlier return
Timing of entitlement to input tax credit depends on the year goods are received and accounted for; ITC should be reflected in the financial year of receipt and disclosed in the annual return table corresponding to the year in which it is claimed, with routine disclosure in Table 4 of GSTR 9. If an earlier-year invoice is claimed within that earlier year's return due date, the ITC may instead be included in that earlier year's annual return (Part 5 of GSTR 9).