ITC not reflect in GSTR2B

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ITC not reflect in GSTR2B
Query (Issue) Started By: - Rakesh Sharma Dated:- 2-5-2021 Last Reply Date:- 7-5-2021 Goods and Services Tax - GST
Got 7 Replies
GST
Sir, can i take itc of Mar 2021 as my supplier not filed GSTR-1 before 11th April. ITC is reflecting in GSTR-2A in Mar but not in GSTR-2B. What if i take itc in march itself if the answer in no? Reply By KASTURI SETHI: The Re .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ply: Dear Rakesh Sharma Ji, Since your supplier has filed GSTR-1 after 11.4.21, you can take ITC now. It is not risk prone. Reply By KASTURI SETHI: The Reply: In continuation of my reply, in this scenario neither interest can be charged nor penalty can be imposed up on provided you fulfill all the parameters laid down under Sections 16 & 17 of CGST Act. In other words, you must have tax invoi .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ce in your possession. Goods or services or both must be received. Payment must be made to the supplier within stipulated period. Proper entry (ies) in books of accounts and Last but not the least, ITC must not be hit by Section 17(5) of CGST Act. Reply By Rakesh Sharma: The Reply: but sir why there is 2B and what about sec 16 (2) aa amendment in finance act? Reply By KASTURI SETHI: The Reply: .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... By inserting sub-section 2 (aa), the responsibility is cast upon the supplier and thus the service receiver or buyer must not suffer because of the supplier's fault. The same applies to GSTR 2B. Reply By Shilpi Jain: The Reply: Pls see the article in the below link for more details on this issue https://www.taxmanagementindia.com/visitor/detail_article.asp?ArticleID=9746 Reply By Shilpi J .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ain: The Reply: This article also https://www.taxmanagementindia.com/visitor/detail_article.asp?ArticleID=9732 Reply By Ganeshan Kalyani: The Reply: I agree with the views of Sri Kasturi Sir. It is practical approach to follow GSTR 2B for taking ITC.
Discussion Forum - Knowledge Sharing .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X