How to claim refund under different scenarios? What is the solution available to me ??? Notifications issued for implementing the decisions of 40th GST Council Meeting Eighth Amendment (2020) to CGST Rules In wake of COVID pandemic, date further extended till 31.08.2020 for certain compliance under GST laws and till 30.09.2020 for certain compliance Customs, Central Excise and Service Tax Laws Removal of difficulty order issued regarding extension of time limit … can we book GST-ITC in our book of accounts as on 30.09.2020 while doing Liability provisioning in compliance to TDS rules for the services received, but Invoice is not received. 2) Determine the level of utilization in your business movement. CAN I CLAIM THE ITC OF F.Y. The claim and sanctioning procedure will be completely online and time bound which is a marked departure from the existing time consuming and cumbersome procedure. Required fields are marked *, Notice: It seems you have Javascript disabled in your Browser. With gstr 2a, i am able to view the inputs. According to the new rule, taxpayers not uploading … Therefore, if any person wants to take ITC, he should be, first, registered with authority under GST Law. Once the ITC is claimed in GSTR 3B there is no time limit to claime such ITC for outward liability as per provision of the act. GSTIN has specified a time-limit to claim the Input Tax Credit. The Input tax credit (ITC) is the tax paid on the purchase of goods or services which can be set off against the tax liability on the sale of goods or services.. Generally, under the system of GSTR-1 and GSTR-3B, the tax credit is claimed by the recipient based on the sales invoices uploaded by the seller/supplier.. In any other case, the last date to claim ITC is the earlier of the following: Before filing valid GST returns for month of September following the end of the financial year applicable to that invoice. Thanks in advance. For eg., the ITC of invoices received in February 2020 can be availed before filing GSTR 3B of September 2020. CBIC has rolled out a new Notification (Notification 94/2020 under GST) in December 2020 informing taxpayers about the changes that will be implemented under GST … 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. Therefore, even if the returns for the period 2017-2018 are filed after March -2019 such dealers are able to take input tax credit for the inward supplies of 2017-2018 the details which should have been uploaded in GSTR 1 before March -2019 by the supplier. I had forgotten to claim IGST import of single bill of entry of 2018-19. Also, It was already mentioned in my article the last date to claim ITC the per section 16(4) of the CGST act. Previously I put the comment on composition scheme, in that case i have not submitted the annual returns for FY 2019-2020 and 2020- 2021. earlier FY years ITC claim time limit is upto Septermber 2020. 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. Taxpayers are reliant on their financial … ITC to be allowed even if supplier failed to pay taxes to Government. Form and manner of submission of monthly return. 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.. KINDLY GUIDE ME THAT CAN I AVAIL THE ITC OF FY 2017-18 IN F.Y. Sir if buyer has appy to close his GST & if he start with new firm name-propritor , how we can recover our payment ? 1. 1. As per section 16(4) of CGST Act, 2017, last date for taking input tax credit in respect of invoice or debit note pertaining to a financial year is. I have accounted an invoice dated 31.03.2019 in march 2020 and claimed ITC in my March 2020 3 B and paid the tax amount only in Aug 2020 due to Covid .. Recently decision has been held in case of Arise India Limited and others Vs. Commissioner of Trade & Taxes, Delhi and others [TS-314-HC-2017(Del)-VAT] – wherein H’ble Supreme Court held that, the ITC shall be allowed to recipient, even though supplier has not paid tax collected from the assessee to the government, which is one of the condition to claim the credit of taxes paid on inward supply of goods or/and services under earlier regime also. 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. Sir I am paid igst of buyer another GSTIN Number for fy 2018-19 but invoice not to be amend on gst portal still so please suggest how can amend this invoice in current FY. 2017-18 is 31 st August,2019. ITC mechanism under GST. “(1)     Every registered person shall, subject to such conditions and restrictions as may be prescribed be entitled to take the credit of eligible input tax, as self-assessed, in his return and such amount shall be credited on a provisional basis to his Electronic Credit Ledger. Dear Sir, 4) Calculate utilizing the standard method. In terms of section 31(3)(f) of CGST Act, registered person receiving goods or services from an unregistered person is liable to pay tax under reverse charge u/s 9(3) or u/s 9(4) and issue an invoice instead of supplier. (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”. The notification proposes a few changes in the Central Goods and Services Tax Rules, 2017. Therefore, effectively the last date to claim ITC for the year 2017-18 was April 23, 2019. 3. 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. The author could be reached at [email protected] for any queries / feedback. In order to submit a comment to this post, please write this code along with your comment: 787f3d36c4ce3941e5f6e9e26c97cef5. Such amendment cannot be held to be retrospective as it deprives the right entitled to the taxpayer. In terms of Section 2(98) of CGST Act, ‘reverse charge’ means recipient is liable to pay GST on inward supply of goods or/and services as notified by government under section 9(3) or supply from unregistered person under section 9(4) of CGST Act. As per Notification No. ii) Time limit is to be taken from the financial year in which invoice is issued i.e. So based on the BOE, credit has already been claimed in GSTR 3B. 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. But we should ensure that supplier has considered the invoice in his return. 30/2020 – CT, dated 3rd April 2020, in Sep 20 GSTR 3B return rule 36(4) has to be considered on a cumulative basis for the month of February, March, April, May, June, July, August 2020. The due date of filing of GSTR-3B for the month of September 2019 is 20th of October 2019. 1. So, return inserted through rules cannot said to be valid return and which is disputable. Department using Section 16(4) disallowing claim of input tax citing the reason that the returns are filed for the year 2017-2018 after 31.03.2019 , which in my opinion a wrong interpretation of Section 16(4) and ROD order dated 02.10.2018 . Extension of time limit for taking ITC In order to remove the difficulties faced by the taxpayers during first year of implementation of GST, in exercise of power under section 172 of the Act, the Central Government passed Central Goods and Service Tax (Second Removal of Difficulties) Order, 2018 on 31.12.2018 and through that Order; a proviso is inserted to section 16(4) of the … Even if restriction is applied u/s 16(4) for the time limit for availing the ITC, it shall be applicable for the year in which such invoice is raised and not from the date in which provision of inward supply of service, as GST provision does not prescribe issue self-invoice within 30 days for RCM case. Bill of entry is not an invoice (or) debit note for which there is a time limit. FORM GSTR 3 whether in Section 39 or Rule 61. There is a time limit for claiming ITC which is earlier of Return filing due date of September (Refer: Important Checklist to consider before filing September GST Returns) of next financial year OR Actual annual return filing for current financial year. Time limit for availing ITC for F.Y. It is a general rule applicable for claiming input tax related to various years. if government wants to give itc as per showing in portal than it should get the sales invoices uploaded on real time basis and also give facilities to buyers to upload the missing … Can you tell me that I only claimed the itc which I was able to view in gstr 2a whereas my purchases were high for Aug, can I claim it in sept return hopefully will be able to view it as the supplier who will filing it quaterly will also file their respective returns. The GST law contain provisions which restricts admissibility of input tax credit of goods and/or services. The Central Board of Indirect Taxes and Customs (CBIC) has issued Notification No. GSTR 3B has been introduced through CGST Rules, not through the sections. 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 I already mentioned in my article, section 16(4) allows the registered person to take the credit within the due date for filing of Sep 3B or filing of annual return WEE.So, if your October month purchase is more and the invoice is uploaded by the supplier on a quarterly basis, such ITC can be taken on Sep 3B return. As per section 16(2) of CGST Act, one of the conditions for claiming the credit by recipient is that the supplier should have actually paid such taxes collected to the government. Sir, I had raised invoice in Jan 20 and also pay GST, but my that customer was defaulter in payment. In my case ineligibility starts from 19h October 2019, am i eligible for ITC claim from which Financial Year sir, Sir i am composition dealer but i have violated the composition scheme condition that i have supplied inter state on October, 2019. so from there i am ineligible for composition scheme. 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. Can you Please clarify me whether any kind of restriction is there that invoice can’t be more than 1 years old. SO they are now making amendments in Dec 2020 or Jan 2021. As per proviso to section 16(2) in case, the recipient is not made the payment within 180 days from the date of issue of invoice then the credit on the tax paid needs to be reversed by the recent. As per Rule 36 of CGST Rules Bill of Entry issued under the Customs act is one of the documents based on which the ITC can be claimed u/s 16(2). 2.As per section 16(4) ITC relating to FY 2019-20 can be claimed in Sep 20 provided all the conditions u/s 16(2) satisfied. 1. Unless the documents is not recieved ITC cannot be booked. GSTR 3 which is not yet made applicable due to technical glitches and GSTR 3B has been introduced for time being in leu of GSTR 3 u/r 61(5). Due date for filing of GSTR-3B returns for tax period of September, 2020, i.e. This amendment restricted the … If the conditions as mentioned in section 16(2) CGST Act is satisfied, then the recipient is eligible to claim the credit, as Rule 36(4) restriction to avail the credit was not applicable for FY 18-19. Time limit to grant GST Registration increased Time limit for system-based registration has been enhanced from 3 days to 7 days. There is a time limit for claiming ITC which is earlier of Return filing due date of September of next financial year OR Actual annual return filing for current financial year. So, restriction of time limit should not be applicable in case of Bill of Entry. The notification released by the Central government on 26th December, 2019 stats that, effective from the 1st January, 2020, “20 per cent” ITC for non-invoice GST returns will be replaced with “10 per cent” ITC. 31/03/2021. Hello. 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. Dear sir, In the above case, the time of supply u/s 13 of CGST Act is 31/12/2019 and supplier discharges the GST along with interest applicable. Therefore if you have such invoices and you want to claim ITC then you can book and take such credit before filing GSTR 3B for the month of September 2018. Therefore, the date is 20th October 2018 and ABC Corp can claim this … New TDS Rule, whether would be difficult to implement? Under this Article, we will try to explore the time limit for availment of credit. Any pending ITC … As per Section 16(4) of the CGST Act 2017, taxpayers can claim any pending ITCs for any particular month, till the September of the subsequent year or while filing the annual return GSTR-9 for the financial year in which the Input Tax Credit has been availed. Bill date is 21-03-2020 and Now we are booking in Oct-20 month and doing payment. So the if the ITC claimed without payment of tax to the department it will be treated as ineligible ITC. The due dates for filing of Form GSTR-3B returns for tax period of September, 2020, are as given below: Remarks: In the back ground of above, it is submitted that maximum time limit for availing ITC in respect of invoice pertaining to Financial Year 2019-20 and/or Debit Note of invoices pertaining to Financial Year 2019-20 is earlier of, 1. In case of “AAP & Company, Chartered Accountants v/s Union of India”, the Gujarat HC held that Form GSTR-3B is not a valid return under section 39 of CGST Act, 2017. Time limit for claiming ITC under GST. Sir, As per section 16(4) of the CGST Act, time limit to claim the ITC is to earlier of Due date of Sep 20 GSTR 3B of subsequent year of furnishing of annual return. Sir we need a suggestion , actually we received a Vendor bill of Mar-20 month, which booking and payment we forgot to done before 30-09-2020. There are several conditions such as possession of invoice, receipt of goods or services etc. Therefore, the due date for filing the … 2020-21 UPTO THE MONTH OF SEPTEMBER 2020. Can we claim ITC for the period of Jan 2020 to Mar 2020? 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. 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. I think Section 16(4) need a detailed look. Recipient issues self-invoice for payment of tax and to claim credit on such taxes paid, under section 16(2). ITC shall not be claimed more than 10% of eligible credit which is reflecting in GSTR 2A for the above period. One can hope that the liberal view is adopted in ITC as it is a beneficial provision with limited restriction on claim of ITC. As soon as the registered person take his eligible ITC in his return the credit will be available in the Electronic Credit Ledger (‘ECL’), his claim is provisionally accepted, subject to matching, mis-matching elements with the supplier report in his form GSTR-1. 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And upon payment made to the supplier again the credit can be taken, provided such credit has been taken within Sep 20 return u/s 16(4), else the credit is will lapse. Join our newsletter to stay updated on Taxation and Corporate Law. On payment to the supplier can claim such credit again. You can take the current FY ITC before filing the next FY GSTR 3B for the month of September. Rules can not override the provisions of the condition to avail input tax this restricted. For advance IGST ITC of these invoices can i avail the ITC on IGST paid Bill... Such amendment can not be booked before the date of Annual return of 2018-19 REVERSED! And not for time limit to raise a self invoice of tax and to claim ITC for registered! Invoices, credit has already been vested with the provision of Act and/or particular Rule can be till... Tax to the taxpayer ITC ( i.e the credit u/s 16 ( 4 ) 2 proposes a changes... Tax on such taxes paid claim such credit again of ITC payment to dpt and take for. 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Through the sections GST & if he start with new firm name-propritor how... Is there any change for sept 20 return should not be claimed than... For small taxpayers GST council also being very pro-active in considering the details in GSTR 2A for period... Shall reverse such credit claimed which is not recieved ITC can be applied to Bill of Entry 2018-19... There that invoice can ’ t be more than 1 years old not reflecting in GSTR 2A 4! Gst was simple in original forms whether department allows input tax on such taxes paid, under the regime..., that since the online refund ITC mechanism under GST 1 for non receipt of payment is required raise! Credit has already been vested with the tax payers the sections, he should be,,! Table 6 in FORM GSTR 9 36 ( 4 ) need a detailed look for... For F.Y i had forgotten to claim credit on such such additional invoices credit! To dpt and take credit within Sep 20 GSTR 3B with-out considering the details in GSTR 2A how to the!
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