Become a Govt. Certified GST Practitioner in just 58 hours. Register Now!

ITC RECLAIM

19 November 2018

If a bill of July 2017 on which ITC taken not paid beyond 180 days and ITC reversed thereafter if Bill paid on Oct,2018.
is ITC could be reclaimed in Oct, 2018 GSTR 3B?

Reply
Follow
Share

5 Replies

Akash Keshri (57 Points)
Replied 19 November 2018

yess
because that was mine
so i reclaim

Upgrade to CAclubindia Pro. Subscribe Now!

SUMIT KARESIA (155 Points)
Replied 19 November 2018

it means time limit given to claim old bill itc which was not taken earlier year could be claimed last return on September not applicable on reversed ITC? and it can be claimed after September return after payment of liability ?

Akash Keshri (57 Points)
Replied 19 November 2018

itc reclaim within the same finincial year

RAJA P M ("Do the Right Thing...!!!") (128096 Points)
Replied 19 November 2018

No... You can't claim the said Input. Bcoz, The Input is not available or Valid or no more after the Period...

SUMIT KARESIA (155 Points)
Replied 19 November 2018

As per proviso of Section 16(2)
The recipient shall be entitled to avail of the credit of input tax on payment made by him of the amount towards the value of supply of goods or services or both along with tax payable thereon.
And As per Sub rule (4) of Rule 37, The time limit of September month will be not apply in case of Reclaiming of Credit.

Hence can Reclaim of credit (As per section 16(2) can be claim After Sept18 also