As per GST Rule,
Following condition must be satisfied for claiming ITC
- Person should be in possession of Invoice/Debit Note/Other Documents
- Person has Received Goods/Service
- Tax Charged has Actually been paid to Government by seller
- Seller has furnished GST Return showing sales (supply)
Hence ,it is important to have possession of invoice+possession of goods to claim ITC
Example
Suppose Goods Sold by A to B on 31 Jan but B Receive goods on 1 Feb
In this case, Invoice Date is 31 Jan and Goods Receive on 1 Feb
Both possession of goods and possession of invoice happens on 1 Feb
So ITC available on 1 Feb
SummaryFor Sales, we consider Invoice DateFor purchase, we consider Receipt Date
Example