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Series- 395.

GST Updates

You must be the change you wish to see in the world in relation to GST Credit

$Phases$ of ITC

1. You have an invoice, so you will receive input.

2. If you have an invoice but it doesn’t reflect in GSTR 2A, you will still receive input within a limit.

3. You have an invoice. But since it doesn’t reflect in GSTR 2A, you won’t receive input.

4. You have an invoice. It reflects in GSTR 2A, but doesn’t show in GSTR 2B, so you won’t receive input.

But this is a new phase, where you won’t receive input even when the invoice reflects in GSTR 2B.

You might say you are referring to scenarios where you receive goods a month after the bill has been generated by the vendor.

We understand, and you’re right only to an extent. Why? Because Section 38 has come into existence. It mentions that, under the above circumstances, you will not be able to claim input even if it shows in GSTR 2B.

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