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Regarding input tax

Bipin Kumar (54 Points)

09 September 2018

If I miss a bill in my financial year 2017-18 .how will I get the input tax of that bill?

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11 Replies

prasad Nilugal (3914 Points)
Replied 09 September 2018

I think It will laps please confirm

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Rohit Tibrewal (Student & Senior Accountant) (3193 Points)
Replied 09 September 2018

The Due date of filing GST return for September 2018 ( FY 2018-19) is 20th October 2018 and the Date of filing GST Annual Return for FY 2017-18 is 31st December 2018, whichever is earlier.

You can avail Input till 20th October'2018.

prasad Nilugal (3914 Points)
Replied 09 September 2018

yes Rohit is correct , I thought credit after 31/12/2018 ,

Rohit Tibrewal (Student & Senior Accountant) (3193 Points)
Replied 09 September 2018

@ Prasad thank you ji

prasad Nilugal ( GST Practitioner & Accounts ) (14606 Points)
Replied 09 September 2018

Its before 20th septmber 2018 not 20 october 2018 please read section 16 sub section (4) of the CGST act 2017

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Shivam RC (Student) (23683 Points)
Replied 09 September 2018

Agree with Rohit Sir's explanation.

20th October 2018 is the last date to claim all your Input Tax Credit ( ITC ) in respect of invoices of FY 2017-18.

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Rohit Tibrewal (Student & Senior Accountant) (3193 Points)
Replied 09 September 2018

A registered person shall not be entitled to take input tax credit in respect of any invoice or debit note for supply of goods or services or both after the due date of furnishing of the return under section 39 for the month of September following the end of financial year to which such invoice or invoice relating to such debit note pertains or furnishing of the relevant annual return, whichever is earlier.

Furnishing month of Return is 11th October'2018 - GSTR-1 and 20th October '2018- GSTR-3B.

Please go through the Bare Act precisely.

Tamizh vanan (220 Points)
Replied 09 September 2018

your perfectly right(rohit ji)

Rohit Tibrewal (Student & Senior Accountant) (3193 Points)
Replied 09 September 2018

@ Shivam RC and @ Tamizh Vanan thanks both of you.

Vinod Babu (24191 Points)
Replied 09 September 2018

ITC can be claimed only within one year from the date of issue of tax invoice relating to supply. In any other case, the last date to claim ITC is earlier of the two below:

Before the filing of valid return for the month of September following the end of FY to which such invoice is related, or Before the filing of the annual return

Note: As per section 44, the last date for filing of annual return is 31st December following the end of the financial year.