Purchase Bills Received Late


Rekha H
watch_later 3 years, 1 month ago

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? 

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2 Answers

Pulkit Sharma watch_later 3 years, 1 month ago
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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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Rekha H watch_later 3 years, 1 month ago
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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.

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