Query related input tax

Page no : 2

Mayur (Business Owner) (185 Points)
Replied 16 August 2020

Originally posted by : Himanshu Gupta
	Mr. Sabyasachi jiI think you have not read my answer properlyin point (1) I have mentioned sec 16 & Invoice Composite dealer is not mention in Mr. Mayur's Ques. and composition dealer will not get ITC for any inward supply and he is talking about particular inward supply of rent so it is understood that he is talking about normal registered taxpayerand I have also said that Payment from any type of account would not affect ITChope you got my point.

Yes you said it right, Himanshu! Not a composite taxpayer, I am a regular tax payer having turnover of less than 1 cr.

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sabyasachi mukherjee (27579 Points)
Replied 16 August 2020

So , your query should hv been more explicit.

Himanshu Gupta (56 Points)
Replied 16 August 2020

Mr. Mayur ji

Notification 47/2019 dated 9th October 2019 has made it optional to furnish annual return only for F.Y. 2017-18 and F.Y. 2018-19 for those registered persons whose aggregate turnover in a financial year does not exceed two crore rupees.

So you are required to furnish annual return for F.Y. 2019-20 & onwards unless any notification for optional or exemption is issued.

Mayur (Business Owner) (185 Points)
Replied 16 August 2020

Originally posted by : Himanshu Gupta
	Mr. Mayur jiNotification 47/2019 dated 9th October 2019 has made it optional to furnish annual return only for F.Y. 2017-18 and F.Y. 2018-19 for those registered persons whose aggregate turnover in a financial year does not exceed two crore rupees.So you are required to furnish annual return for F.Y. 2019-20 & onwards unless any notification for optional or exemption is issued.

As per my latest conversation with the GST Customer care GSTR9 & 9C filing is optional for registered persons whose aggregate turnover in a financial year does not exceed two crore rupees. Wasnt aware that it is only for FY 17-18 and 18-19.

What is the last date for filing GSTR9 for FT 19-20?

Himanshu Gupta (56 Points)
Replied 17 August 2020

I don't know how then can say this as no notification has been issued for making annual return optional for the F.Y. 2019-20 & onwards.

Last date to file Annual return for the F.Y. 2019-20 is 31/12/2020 if no notification of extension is issued.

In my opinion, If any such optional notification comes still you can claim ITC till September as date of furnishing annual return will never be earlier than September if you choose not to file annual return.

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Mayur (Business Owner) (185 Points)
Replied 17 August 2020

Originally posted by : Himanshu Gupta
	I don't know how then can say this as no notification has been issued for making annual return optional for the F.Y. 2019-20 & onwards.Last date to file Annual return for the F.Y. 2019-20 is 31/12/2020 if no notification of extension is issued.In my opinion, If any such optional notification comes still you can claim ITC till September as date of furnishing annual return will never be earlier than September if you choose not to file annual return.

Thanks for the revert, Himanshu! Have no idea how they said that it is optional even for and after FY19-20. I made them a call again and they confirmed that it is not optional but last date of filing annual return for FY 19-20 is yet not confirmed. Just to reiterate and let me know if I have understood it correctly: 1) I can claim input tax for FY19-20 at one go while filing Annual return even if I have not claimed it throughout the year. 2) I wouldnt be able to claim input tax for FY 18-19 as its been over a year and as I am also not filing Annual return. 3) Input tax of FY 20-21 from March 20 to Aug 20, I can claim while filing GSTR3B next month in Sept. Hope I have understood the points correctly. Let me know in case of any deviations. Thanks again!

Himanshu Gupta (56 Points)
Replied 21 August 2020

1) you can claim eligible ITC of F.Y. 2019-20 at one go in any of GSTR 3B of the month of Apr 20 to Sept. 20. and not in annual return.
2) yes you can claim ITC for the F.Y. 2018-19
3) yes, you can claim eligible iTC for Apr. 20 to Aug 20 in GSTR 3B of sept. 20 Month.