Q What is the last date to claim Input Tax Credit under GST for FY 2017-18 ?
I have forgotten to take Input tax Credit of Rs 1000 on Invoice Dated 13.03.2018. Till which date I can Claim Input Tax credit on Invoice of FY 2017-18.
Video Tutorial by CA Satbir Singh (Voice in Hindi , Slides in English) explaining Last date to claim Input Tax Credit for FY 2017-18 under GST
As per Section 16(4) of CGST Act 2017. Eligibility and conditions for taking input tax credit.
A registered person shall not be entitled to take input tax credit in respect of any invoice or debit note for supply of goods or services or both
- after the due date of furnishing of the return under section 39 for the month of September following the end of financial year to which such invoice or invoice relating to such debit note pertains or
- furnishing of the relevant annual return,
whichever is earlier.
Every registered person, other than an Input Service Distributor or a non-resident taxable person or a person paying tax under the provisions of section 10 or section 51 or section 52 shall, for every calendar month or part thereof, furnish, in such form and manner as may be prescribed[ Rule 61 of CGST Rules],a return, electronically, of inward and outward supplies of goods or services or both, input tax credit availed, tax payable, tax paid and such other particulars as may be prescribed, on or before the twentieth day of the month succeeding such calendar month or part thereof.
Rule 61(5) of CGST Rules 2017 :-
Where the time limit for furnishing of details in FORM GSTR-1 under section 37 and in FORM GSTR-2 under section 38 has been extended and the circumstances so warrant, the Commissioner may, by notification, specify the manner and conditions subject to which the return shall be furnished in FORM GSTR-3B electronically through the common portal, either directly or through a Facilitation Centre notified by the Commissioner.
Note : Return GSTR 3B has been prescribed under Rule 61(5) of CGST Rules.
Example .
You have forgotten to take Input tax Credit of Rs 1000 on Invoice Dated 13.03.2018. and you have filed Annual Return as follow:-
Case -1 : on 15th October 2018 or
Case -2 ; on 01st November 2018
[ Note : Assuming that Due date for September 2018 GSTR 3B is 20th Oct 2018 .]
You can take Input Tax credit on Invoices of FY 2017-18 as follow :-
Case -1 : till 15th October 2018 (because Annual Return filed before filing GSTR return for September)
Case 2 : till 20th October 2018 ( Due date of Filing GSTR return for September 2018)
Advisory from TaxHeal
- Check you GSTR 2A on GST Portal of FY 2017-18 and Reconcile with your Books of Accounts so that Input Tax credit is not missed
- Take Statements from Creditors for purchases made during FY 2017-18 and reconcile with your ledger/ Books of Accounts.
Related Post on Input Tax Credit
- Input tax Credit on capital goods purchased before GST Registration
- Input Tax Credit in GST ( India )
- When you Can not Claim ITC under GST
- Example on Rule 5 of GST Input Tax Credit Rule – ITC on Capital Goods
- Example on Rule 7 of GST Input Tax Credit Rule – Inputs Partly used for business and partly for other purposes
- Example Rule 8 of GST Input Tax Credit Rule – Capital Goods Partly used for Business and partly for other purposes
- Example Rule 9 GST Input Tax Credit Rules – Reversal of ITC on Inputs & Capital Goods
- Video : GST Input Tax Credit wrongly availed : GST News [Part 228]
- Video : GST ITC 4 : Goods to Job Worker :GST News [ Part 166 ]
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