Therefore, if any person wants to take ITC, he should be, first, registered with authority under GST Law. As per the proviso to section 16(2) of the CGST Act, the recipient is not eligible to take the ITC on the inward supply if fails to make the payment to the supplier within 180days from the invoice date. Secondly, if you say that time limit for raising self invoice is 30 days from the date of service then one cannot claim credit based on self invoice raised after … If I want to claim input tax credit on bill of entry beyond due dates of section 16 (4), where do this credit can be shown in GSTR 9 and whether same is allowed in GSTR 9C by GST Auditors. Dear sir, as the supplier has filed the GSTR 1 with the incorrect GSTIN, it is suggested to reverse the ITC claimed with interest from the date of availing till the date of reversal and can take the ITC once the supplier uploads the details with the correct GSTIN. Does, the GST-ITC can be booked before the date of invoice or not? Section 16(4) of the CGST Act, 2017 may be read as under-, “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.”. GSTR 3B has been introduced through CGST Rules, not through the sections. If i have done that what i have to pay penality as per GST Rules or not. This limit earlier was 10% of ITC … Ex:  Date of provision of service – 31/12/2019. Rules are just procedures to comply with the provision of the act. Last date to claim the ITX for Fy 17-18 is to on or before 31/03/2019, So itc rwlating to 17-18 caant be claimed in sep 21 as per section 16(4) restriction, Is there any time limit to utilise the ITC claimed under the GST regime ie are there any provisions which states that ITC needs to be utilised within a certain time frame say 1 yr or 4 yrs etc..Kindly guide. As per the aforesaid provision, the time limit for taking input tax credit for the financial year 2018-19 is up to the filing of return (GSTR-3B) for the month of September 2019. Due date of Annual Return (FORM GSTR-9) under Section 44 i.e. He can claim the ITC based on that invoice. But it is also important to know that the prime concept of ITC arises under GST by Section 41 of the CGST Act, 2017 by the golden sentence ‘entitled to take eligible input put credit’. 2017-18 is 31 st August,2019. Section 31(3)(f) read with rule 36 provide for it. Under section 16(2) one of the requirements to claim the credit is to have a valid document which includes Bill of Entry in case of Imports as per Rule 36 of CGST Rules. So, restriction of time limit should not be applicable in case of Bill of Entry. In other words, either depreciation on the tax component can be claimed under Income Tax Act or ITC of such tax paid can be availed under GST laws. Join our newsletter to stay updated on Taxation and Corporate Law. What is the solution available to me ??? As per the criteria laid down to reckon the time limit: The Due date of filing GST return for September 2018( FY 2018-19) is 20th October 2018 and the Date of filing GST Annual Return for FY 2017-18 is 31st December 2018, whichever is earlier will be the time period within which ABC Corp has to claim ITC. The Central Board of Indirect Taxes and Customs (CBIC) has issued Notification No. Maximum time limit to avail Input Tax Credit (ITC) under GST 1. Maximum time limit to avail Input Tax Credit (“ITC”) under GST Law. But the question is whether the time limit u/s … 16/2020 dated 23 March 2020 to make certain amendments to the Central Goods and Services Tax (CGST) Rules, 2017 with respect to the refund mechanism under GST for the zero-rated supply of goods and/or services with or without payment of IGST. By reading the above relevant sections and rules relating thereto, the maximum time period to file ‘Annual Return’ is specified under Section 44 of the CGST Act, 2017 which is 31st Day of December from the end of the financial year and requisite form to file Annual Return is specified by Rule 80 of the CGST Rules, 2017 which is FORM GSTR 9. In your case, credit on the invoice dated March 20 can be taken in GSTR 3B of Sep 2020 provided conditions under section 16(2) satisfied. Your email address will not be published. within due date to file the return of September month of the subsequent year or filing of annual return for FY) does not talk about the Bill of Entry. How to get itc of last month totally. The author could be reached at [email protected] for any queries / feedback. So the if the ITC claimed without payment of tax to the department it will be treated as ineligible ITC. In case the invoice is not reflecting in the GSTR 2A suggested to followup with the supplier to uploaded and declare the details in his GSTR 1. In case the supplier is filing quarterly basis credit can be claimed based on the invoice copy issued by the supplier of the supply made. Join our newsletter to stay updated on Taxation and Corporate Law. I am sorry to disagree with you; the ROD order stated that ; provided that , the registered person shall be entitled to take input tax credit, after the due date of furnishing of the return under Section 39 for the month of September 2018, till the due date of furnishing of the return under the said section , for the month of March 2019 ,in respect of any invoice or invoice relating to such debit note for supply of goods or services or both ,made during the financial year 2017-18, the details of which have been uploaded by the supplier, under sub-section 1 of Section of Section 37, till the due date for furnishing details under sub-section (1) of said section for the month of March -2019.. (2) The credit referred to in sub-section (1) shall be utilised only for payment of self-assessed output tax as per return referred to in the said sub-section.”, While analysing the sentence ‘entitled to take eligible input tax credit’, it is necessary to refer sub section (1) of Section 41 and sub section (1) of the Section 16 of the CGST, 2017 and both the sections begin as follows “Every registered person shall subject to conditions and restrictions as may be prescribed”. Required fields are marked *, Notice: It seems you have Javascript disabled in your Browser. As per section 172 of CGST Act, Removal of difficulties, if any difficulty is arising government shall issue the order to make provisions not inconsistent with the provision for the purpose of removing the said difficulty. In order to submit a comment to this post, please write this code along with your comment: a6c9674d384add182a0a44cdabfe8948. In case the invoice has been issued within 30 days from the date of provision of service then the time of supply is earlier of date of invoice or date of receipt of payment. R/SIR A specific notification has not been issued saying the credit based on BOE can be claimed beyond the due date, but section 16(4) gives reference only to Tax invoice and Debit note to claim the credit within the due date as mentioned. So based on the BOE, credit has already been claimed in GSTR 3B. Under section 16(2) of the CGST act, one of the conditions to claim the ITC is to have the document issued by the supplier. Section 31(3) starts with notwithstanding clause, where time limit to issue tax invoice within 30 days of provision of service is not applicable in case of inward supply, where recipient is liable to pay tax under reverse charge. How we can recover our payment thus ITC can not undo a right which has already vested! 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2020 time limit for claiming itc under gst notification