TaxTMI 
TaxTMI 
Taking ITC on same invoice more than once
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....aking ITC on same invoice more than once<br> Query (Issue) Started By: - ASHOK PATRA Dated:- 10-7-2020 Last Reply Date:- 13-7-2020 Goods and Services Tax - GST<br>Got 9 Replies<br>GST<br>Whether GST credit can be taken more than once (may be twice) in different months against same GST invoice issued by vendor without exceeding GST amount charged in the said invoice? Reply By Ganeshan Kalyani: The....
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.... Reply: It is not advisable to take credit in piecemeal. You can take full credit and then utilize it coming months . This would be a better option. Is there any specific reason for your query. Reply By Rajagopalan Ranganathan: The Reply: Sir, Under GST there is no provision to take credit twice by apportioning it into two parts. Under erstwhile CENVAT Credit rules, duty paid on capital good....
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....s had to be taken 50% in first year of purchase and other 50% in any subsequent years. This provision is not there under GST. Under GST even if the inputs are received in lots, the credit is to be taken only when the last lot is received by the recipient. Reply By KASTURI SETHI: The Reply: What is the logic or reason behind taking ITC in piecemeal ? I support the views of both experts. Reply By....
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.... ASHOK PATRA: The Reply: In case of bulk material, the goods are brought by rail.Some times few rakes get detained on the way before reaching factory.This happens due to some railway traffic issue The remaining rakes are received in subsequent month.Even though entire quantity covered under single GST invoice whereas goods are received over two/three months.Credit is taken in proportion to quanti....
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....ty received in each month.Postponing credit till last rake receipt (some times it is for uncertain period) will have working capital issue. Reply By Ganeshan Kalyani: The Reply: Proviso to Sec.16(2)(d) states as, "Provided that where the goods against an invoice are received in lots or installments, the registered person shall be entitled to take credit upon receipt of the last lot or inst....
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....illment:" The above provision states that if the material under one invoice is received in lot the input tax credit can be taken only when last lot has been received. Reply By DR.MARIAPPAN GOVINDARAJAN: The Reply: Input credit may be taken only for one time. You may follow the advice of Shri Kalyani. Reply By ASHOK PATRA: The Reply: Whether credit can be taken more than once in case of i....
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....nput services.?In fact some times due to voluminous transactions such situations arise. Reply By Ganeshan Kalyani: The Reply: In my view, the answer is no. Reply By KASTURI SETHI: The Reply: Dear Ashok Patra Ji, You are writing the words, "more than once, twice" . These words convey wrong message. Actually, you want to avail ITC in installments which is not admissible whether it i....
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....s goods or services. I support the views of Sh.Ganeshan Kalyani Ji.<br> Discussion Forum - Knowledge Sharing ....