Any chance to adjust current month ITC against previous month liability

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This query is : Resolved

Quick Summary

A business is seeking to use excess Input Tax Credit (ITC) from April 2023 to offset a liability incurred in March 2023. They understand the GSTR3B filing sequence but are looking for any possible ways to apply the April ITC to the March liability, even if it means paying interest and late fees for the March filing. The initial response indicates there are no such options available.

Bazeer Ahmed

Bazeer Ahmed (Querist)
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20 April 2023 Dear Sir / Madam,
We have to pay some liability after adjusting ITC for the month of March2023 but we will have excess ITC for the month of April 2023 as we have procured and installed a capital goods in April2023.

I understand we cannot file GSTR3B of April 2023 month without filing GSTR3B of March 2023. And we are ready to pay interest and late fees for late filing.

But still we want to utilize the April 2023 credit to adjust the March 2023 month liability.
Any possibilities / chances are there to do so.

Kindly advise us

Many Thanks in advance

With warm Regards,
L Bazeer.