Dear Sir/Madam,
Please let us know wheather any bar is there on cliaming of ITC on account of purchase made from URD.
Eg: the rgistered person purchase the goods from URD in the month of July 2017 worth of Rs.1,000,000 with GST of 18,000. The GST payment made Rs.18,000 in july 2017 have been claimed as ITC in Agust month.
Please give us your valuable opinion in this regard.
Thank you in advance.
Eligibility of Input Tax Credit Under GST Section 9(4) for Purchases from Unregistered Dealers Analyzed A query was raised about the eligibility of claiming Input Tax Credit (ITC) under section 9(4) of the Goods and Services Tax (GST) for purchases from unregistered dealers (URD). The example provided involved a registered person purchasing goods worth Rs. 1,000,000 with GST of Rs. 18,000, which was claimed as ITC the following month. Responses varied: one indicated ITC is unavailable for URD purchases unless under reverse charge mechanism (RCM), another stated credit can be claimed in the same month, and a third mentioned restrictions under section 17(5). The goods involved were related to civil works. (AI Summary)
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