As per GST Act, the buyer is eligible to claim input tax credit of the GST paid on the purchase of goods or services. However, such credit can be availed only if the supplier has paid GST on sale of goods or services. Once the supplier files return and GST has been paid, the details get reflected in GSTR-2A of the buyer. As per the recent amendment, variance of upto 20% in the credit claimed and credit reflected in GSTR-2A shall be allowed while the rest if any, needs to be reversed.
To get your returns filed along with reconciling the details of GSTR-2A do visit: LegalWiz.in