CLAMING ITC AS PER 18(1)C.

This query is : Open

sanjay (Querist)
Follow

31 October 2019 One of client get conversation from composition to regular . And he has to file ITC 01 UNDER SEC 18(1) C with in 30 days from the date of conversation. But he fails to claim now what will the solution and how can he get this...

Thank you...

CA PARTH SHAH

CA PARTH SHAH (Expert)
Follow

01 November 2019 You can make application to Jurisdiction Officer to allow to file ITC -01 giving valid reasons for not filing the ITC within the due date. Other option is you can claim credit in GSTR-3B and during the assessment, you can explain the officer regarding the reason of not filing ITC-01 and claiming the said credit in GSTR-3B. However this option is very subjective and if AO do not allow the credit, you may have to litigate the matter to higer level. Hence the decision should be taken based on the materiality of credit amount and risk involve in it.

sanjay

sanjay (Querist)
Follow

03 November 2019 Sir time limit for filling Form ITC 01 as per 18 (1) c is over. can we took the same input by filling Form ITC 01as per 18 (1) a or 18(1)b.
and tell me any consequences if i took ITC as per 18(1)a or b.

Upgrade to CAclubindia Pro. Subscribe Now!

CA PARTH SHAH

CA PARTH SHAH (Expert)
Follow

11 November 2019 As per my opinion, you cannot file form ITC-01 under section 18(1)(a) as well as 18(1)(b) as those are to be filed when new registration is taken. Even the time limit mentioned is 30 days for 18(1)(a). So as suggested you can choose any of the 2 option I suggested.