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ITC 2019-20

bijo (Accountant) (302 Points)

18 November 2020

Last date for claiming ITC for FY 2019-20 is due date of September 3B or when we are submitting 3b for september? suppose we are submitting 3B for the month of september'20 on December 20,can we claim the ITC for 2019-20?

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6 Replies

srivanivemula (CA final student) (48 Points)
Replied 18 November 2020

Last date to claim itc for Fy 2019-20 is due date of September month return not actual date of filing of September month return

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debora M (BUSINESS DEVELOPMENT MANAGER) (1697 Points)
Replied 18 November 2020

In terms of provisions of section 16(4) of the CGST Act, 2020, pending ITC related to FY 2019-20 can be claimed upto due date of GSTR-3B return for September 2020. Thus, practically speaking, the last date for claiming pending / hold ITC related to FY 2019-20 is 20^th / 22^nd / 24^th October 2020, as the case may be.

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Shivam RC (Student) (23683 Points)
Replied 18 November 2020

As per the Provision of Section 16(4) of the CGST Act 2017, ITC of a particular FY can be claimed till the due date of filing Return for the month of September following the FY or the date of filing Annual Return U/s 44, whichever is "EARLIER".

Accordingly the "due date" to file Return in FORM GSTR-3B for the month of September 2020 will be the last date to claim ITC pertaining to FY 2019-20 [ i.e. 20th October / 22nd October ( Category I States ) or 24th October 2020 ( Category II States ) ].

NOTE : The "due date" is considered and not the original date of filing the Return for the month of September.

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bijo (Accountant) (302 Points)
Replied 18 November 2020

Where we have to show unclaimed ITC in books of accounts?

bijo (Accountant) (302 Points)
Replied 18 November 2020

Where we have to show unclaimed ITC in books of accounts?

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Vijayprakash P (1313 Points)
Replied 18 November 2020

U/S64 of CGST Act2017, maximum time limit to claim the ITC is (a) Actual date of filing annual return (b) due date of return of september month following the end of financial year which is earliest of (a) or (b).