watch_later 08/01/18

Good evening, Sir

We have received few purchase bills of July as late as November. We have taken the itc of these bills in Nov filing of GSTRB? Will it attract interest as we  have claimed less itc in July? Also will there be any mismatch? How it must be rectified if mismatch arises? 

2 Responses | Latest response: 08/01/18 | Sort by Likes(thumb_up) Recent | GST Reply
watch_later 08/01/18

Thank you, Sir for clarifying my question w.r.t. Purchase bills received late.

You are doing a fantastic work in helping us. Salute you.

watch_later 08/01/18

Interest arises when you have not paid tax or wrongly utilised input tax credit. Utilisation means excess input taken in returns.

In your case you taken less in July and July credit was taken in November, so there will be not interest on this.


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