Friday, 19 October 2018

Last date to avail input tax credit in respect of invoices or debit notes relating to such invoices pertaining to period from July, 2017 to March, 2018

Dear All,
Press Release:  Last date to avail input tax credit in respect of invoices or debit notes relating to such invoices pertaining to period from July, 2017 to March, 2018  

Ministry of Finance has issued Press Release dated 18th October, 2018 and clarified that 
1. The last date for claiming ITC in relation to invoices or debit notes relating to such invoices pertaining to period from July, 2017 to March, 2018 shall be the the last date for the filing of the return (GSTR-3B) for the month of September, 2018 i.e. 20th October, 2018. 

2. The furnishing of outward details in FORM GSTR-1 by the corresponding supplier(s) and the facility to view the same in FORM GSTR-2A by the recipient is in the nature of taxpayer facilitation and does not impact the ability of the taxpayer to avail ITC on self-assessment basis in consonance with the provisions of section 16 of the ActThe apprehension that ITC can be availed only on the basis of reconciliation between FORM GSTR-2A and FORM GSTR-3B conducted before the due date for filing of return in FORM GSTR-3B for the month of September, 2018 is unfounded as the same exercise can be done thereafter also.  

3. If still form GSTR 3B period mentioned above, not filled may I recommend you fill submit by paying any tax / late fee payable by 20.10.2018. In order to get claim for ITC of GST by the last date. 

Please find attached herewith press release for your reference.

Regards,
CA. Ashwani Rastogi
Partner, ARJS & Associates
Chartered Accountants 
 011-42137042, +91 9990999281
Office:- 2029, Bank Street, Karol Bagh
New Delhi 110005 (India)

No comments:

Post a comment