Section 41 of CGST Act provide for the claim of ITC and provisional matching thereof. This matching is subject to finalization. Once the GSTR-3 is filed there will be a matching on back end. A mismatch report will be generated and made available to taxpayer.
“(1) Every registered person shall, subject to such conditions and restrictions as may be prescribed, be entitled to take the credit of eligible input tax, as self-assessed, in his return and such amount shall be credited on a provisional basis to his electronic credit
(2) The credit referred to in sub-section (1) shall be utilised only for payment of selfassessed output tax as per the return referred to in the said sub-section.”
(As Given in CGST Act)
Oct 14, 2021
by CA RK Gupta
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