Can We Take Setoff Of August Bill In Month Of September


Gayatri Deva
watch_later 3 years ago

if Aug month purchase bill received 15/9/2017 can we pass this entry on 15/9/2017 and take set off this bill

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2 Answers

Gayatri Deva watch_later 3 years ago
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if bill date is 2/8/2017 as  i  said i received the bill on 15/9/2017 so while passing entry in tally i have to pass on 15/9/2017. is it allowed, it will not creat any problem in aduit at the end

 

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GST Payer watch_later 3 years ago
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Yes you can take the input credit of August bill in September. Basically the credit system will be based on GSTR-1 return filed by your supplier.

If he uploads invoice then only you will get credit, otherwise if you took credit in GSTR-3B you might have to reverse it later and pay interest and penalty.

But if your supplier uploads his invoices, and file proper returns, you will automatically get input credit.

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