Regarding ITC-04

This query is : Resolved

jignesh sitapara (Querist)
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26 September 2024 Dear Experts,
My client has not filed ITC-04 from July 17 to till date. Now how much penalty will charge by officer, And I think 2017-18 to 2019-20 was exemption of ITC-04.
Please help

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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19 October 2024 Notification No. 17/2017 - Central Tax dated 27th July 2017 exempted taxpayers from filing ITC-04 for July 2017 to March 2018.
Notification No. 41/2018 - Central Tax dated 4th October 2018 extended the exemption for April 2018 to September 2018.
Notification No. 47/2019 - Central Tax dated 9th October 2019 extended the exemption for October 2018 to March 2019.
Circular No. 72/2018 - Central Tax dated 5th November 2018 clarified that ITC-04 was optional for FY 2017-18 and 2018-19.
Circular No. 138/08/2020 - GST dated 6th April 2020 clarified that:
ITC-04 was optional for FY 2019-20. The exemption was applicable for the entire FY 2019-20.

However, from 1st April 2020 onwards, the exemption was withdrawn, and taxpayers are required to file ITC-04.