If supplier submit their GSTR-1 for FY 2019-20 after the due date of September'20 return,can we claim that ITC?
3 Replies
Vijayprakash P
(1313 Points)
Replied 03 December 2020
Section 16(4) provides that the taxpayer shall be entitled to claim Input Tax Credit against an invoice pertaining to financial year, maximum by the due date of filing of monthly return of September of succeeding financial year or the annual return whichever is earlier.
debora M
(BUSINESS DEVELOPMENT MANAGER)
(1697 Points)
Replied 03 December 2020
Time limit for claiming Input Tax Credit (ITC) – time limit for taking ITC for F.Y 2019-20 is up to filing of return (GSTR-3B) for the month of September 2020. ... Hence, if a credit note is issued after September 2020 for any supply made during FY 2019-20, then GST liability cannot be reduced.
APURBA CHATTERJEE
(QUALIFIED CHARTERED ACCOUNTANT)
(604 Points)
Replied 03 December 2020
Last date for the FY 2020 is due date for the month of Sep 2020.
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