16(4) --> march 2019 3b filed in nov 2011

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This query is : Resolved

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If you filed your March 2019 3B return in November 2019, after the 20th October deadline, you may lose your full input tax credit (ITC). Current rules and the law of prescription under Section 16(4) suggest the ITC will be forfeited. While some cases are pending in court, there are no favourable judgments yet, and administrative relief options are uncertain.

naresh

naresh (Querist)
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31 December 2022 i am told i should file march 2019 3b by 20 oct 2019.
i filed in nov 2019.
do i loose full march 2019 itc?
isnt there any way?
can i go in adm relieft or something? its big 9 lakh impact :(

CA Kamlesh Kukreja

CA Kamlesh Kukreja (Expert)
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31 December 2022 As Per Current Rules regarding this ITC Claimed in Mar-19 Return will be Fully Lost. there are many cases pending before courts regarding allowability of this, But Still No Favorable Judgement is Available