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All QuestionsCategory: GST ConsultancyREPORTING OF TAX PAID PURCHASE
Profile photo of RIYA SINHARIYA SINHA asked 2 weeks ago

REPORTING OF TAX PAID PURCHASE

Dear Madam/ Sir,
I have query about, that I have purchased some IT related Services from taxable person, and paid the charge by cheque, hence it remains in my book, but other party will not show my purchase into B2B, due to some contractual area restrictions.I do not want to claim ITC on this service, but how to show that purchase in GST RETURNS and what should be the treatment of such transactions. please help regarding this.

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Profile photo of Nikhil S BohraCA Nikhil S Bohra answered 2 weeks ago

Based on my understanding of query you want to know the treatment of the ITC which you do not wish to avail as seller will not show it under b2b transaction.
Ans  : 
Since you do not wish to avail the credit you can book ITC as cost, due to which in your accounting records it will not be reflected in GST credit ledger.
As this ITC on this transaction is booked as cost the same will not be required to be reported in GSTR 3B. Meaning thereby while availing the credit, ITC of this transaction is to be excluded while reporting in 4(a) of GSTR 3B.
 

Profile photo of RIYA SINHARIYA SINHA answered 2 weeks ago

Thanks Sir, for your suggestion, But I am asking only for the treatment of Purchase amount . Can it be shown in Box 5 of GSTRB or there should not be any reporting in GST for such purchase amount.

Profile photo of Nikhil S BohraCA Nikhil S Bohra answered 2 weeks ago

Table 5 is about Composition and non GST. If it were for table 4. it is not required to be reported.

Profile photo of Nikhil S BohraCA Nikhil S Bohra answered 2 weeks ago

Table 5 is about Composition and non GST. If it were for table 4. it is not required to be reported.

Profile photo of Nikhil S BohraCA Nikhil S Bohra answered 2 weeks ago

Table 5 is about Composition and non GST. If it were for table 4. it is not required to be reported.