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TMI BlogGST - ITC CREDIT - NEW RULES ANYX X X X Extracts X X X X X X X X Extracts X X X X ..... GST - ITC CREDIT - NEW RULES ANY X X X X Extracts X X X X X X X X Extracts X X X X ..... 01.01.2019 effectively In new form input from 2A would be auto populated. Infosys is designing new forms. This is also there at present if we interpretate sec 16 of GST act, which states the said. In case supplier has not filed return, then inform him to upload invoice online till filing of return. This is also known as system of invoice locking. The invoices as taken as ITC from Jan 2019, fr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... om 2a will be locked, and cannot be amended. Only debit note and credits note will function, that is only for passing effect of tax on account of amendment. Regards Reply By Praveen Nair: The Reply: They had started taking step in this line. You can see the effect if you had filed GSTR-6 (ISD Registration) earlier and now. Only missing invoice that we feel is not visible may be added rest by d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... efault is passed as per filing of GSTR-1 by the Vendors. It will update soon for all the returns. Reply By SAFETAB LIFESCIENCE: The Reply: Dear Mr. Praveen Nair Sir, We could not able to understand your answer. Just we wanted to know whether we can avail ITC only if the inward supply bill details are available in GSTR-2A. Whether it is implemented or not. Some of our friends are telling that it ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is going to be implemented from 01.10.2018. Is it true or not. Any other date specified. Reply By Praveen Nair: The Reply: To answer your question I would it is not Notified that the GSTR-2A has been implemented, it can't be so logically since GSTR 2 return is not active yet. You can use GSTR 2A to reconcile your books for ITC credit taken by you in GSTR-3B so that there are no last moment ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... surprises of mismatch once GSTR 2 returns is in notified. GSTR 2 return will accumulate all credits passed on in GSTR-2A and also has options to add missing invoices. Reply By LDRaj &CO: The Reply: Dear Sir In the new simplified form of return filing, eventually it works that way. Proposal of the design was released in Aug. Plan is to implement this from Jan 2019 but there will be a 3 to 6 mon ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ths of transition period during which self- declaration of ITC would continue as like today. Post that unless supplier enters the invoice, receiver won't be able to take credit. Its better to sound off your suppliers proactively on this, have your payment terms defined based on this. Best regards Durai Reply By Ganeshan Kalyani: The Reply: Agreed with the concern of the expert. The supplie ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r should be informed well that they need to upload GSTR-1 appropriately. And also he should pay the tax. If the invoice is not autopopulated in buyer's GSTR-2A then the terms in the agreement should be as such that the supplier will be bound to do the correct complaince. X X X X Extracts X X X X X X X X Extracts X X X X
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