CAN INPUT CREDIT TRANSFER - क्या इनपुट क्रेडिट ट्रान्सफर किया जा सकता है ?
Can it be possible to sell a proprietor concern to a running partnership concern(having different persons as partners), where the said partnership concern is a creditor of the said proprietorship and the proprietor is having a GST Credit balance.?? So to repay can the proprietor ship concern sell the whole firm and transfer the credit.??
As per Section 18 (3)-- Where there is a change in the constitution of a registered person on account of sale, merger, demerger, amalgamation, lease or transfer of the business with the specific provisions for transfer of liabilities, the said registered person shall be allowed to transfer the input tax credit which remains unutilised in his electronic credit ledger to such sold, merged, demerged, amalgamated, leased or transferred business in such manner as may be prescribed.
क्या एक प्रोपराइटर व्यवसाय, रनिंग पार्टनरशिप व्यवसाय (पार्टनर के रूप में अलग-अलग व्यक्ति) को बेचना संभव है, जहाँ उक्त पार्टनरशिप उक्त प्रोप्राइटर का लेनदार है और प्रोप्राइटर के पास जीएसटी क्रेडिट बैलेंस है। ?? उधार चुकाने के लिए प्रोपराइटर पूरी फर्म को बेच सकतa है और क्रेडिट ट्रांसफर कर सकती है??
धारा 18 (3) के अनुसार - जहां एक पंजीकृत व्यक्ति, अपनी देनदारियाँ चुकाने के लिए, अपने बिज़नेस को बेचता है , विलय करता है, समामेलन करता है, पट्टे या व्यापार के हस्तांतरण के विशिष्ट प्रावधानों के साथ हस्तांतरण करता है , उक्त पंजीकृत व्यक्ति को इनपुट टैक्स क्रेडिट को हस्तांतरित करने की अनुमति दी जाएगी, जो उसके इलेक्ट्रॉनिक क्रेडिट लेजर में बिना बिके, मर्ज किए गए, डीमर्ज्ड, एमालग्मेट, लीज़ या ट्रांसफर किए गए व्यापार में अनुपयोगी रहता है, जिसे निर्धारित किया जा सकता है.
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In
the first scenario, the situation is simple to resolve. You met
all the conditions - the invoice was uploaded by the supplier, payment was made
by you, but credit was not claimed. Such an ITC claim can be made by filing
GSTR-3B of March 2019 (likely due on 20th April 2019). This ITC claim will
appear in GSTR-9 of FY 2017-18.
In the second scenario, the supplier needs to upload the invoice and report it in GSTR-1. Once it is part of GSTR-1, which will belong to the next financial year 2018-19, the claim will not belong to FY 2017-18 anymore. It will be part of GSTR-9 of FY 2018-19. Basically, old credit will be available but in the next financial year.
for any query you my comment
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| GST |
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About Tax Credit for FY 2017-18
The GST Council had earlier announced that Input Tax Credit could not be claimed until the filing of GSTR-3B of the Month September 2018, will be
allowed to be claimed by the assesses by 31st March 2019. But due to Confusion our readers wrote back
to us asking how this is really going to work ?
For unclaimed ITC of FY 2017-18 - There may be 2 scenarios
For unclaimed ITC of FY 2017-18 - There may be 2 scenarios
· Your supplier
reported in GSTR-1 of FY 2017-18 but you did not report it as purchase in your
GSTR-3B and did not claim credit
· Your supplier did
not report in any GSTR-1 of FY 2017-18 and hence you could not claim
credit (but paid the invoice)
In the second scenario, the supplier needs to upload the invoice and report it in GSTR-1. Once it is part of GSTR-1, which will belong to the next financial year 2018-19, the claim will not belong to FY 2017-18 anymore. It will be part of GSTR-9 of FY 2018-19. Basically, old credit will be available but in the next financial year.
for any query you my comment
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