Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight

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This query is : Resolved

Quick Summary

This discussion addresses whether Input Tax Credit (ITC) for February 2024, missed due to oversight, can be claimed in November 2024. According to Section 16(4) of the CGST Act, 2017, the deadline for claiming ITC on invoices from FY 2023-24 is either 30th November 2024 or the date of filing the annual return for FY 2023-24 (whichever is earlier). Therefore, the ITC can be claimed with the November 2024 return, though interest may apply to any cash liability if the October 2024 GSTR-3B is filed late.

Venkateshwarlu Pulluri

Venkateshwarlu Pulluri (Querist)

21 November 2024 Good morning sir/s,

can we claim ITC of Feb-2024 (which was not claimed by oversight) in the month of November-2024, since the assesee is already filed his returns up to October-2024

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)

21 November 2024 As per section 16(4) of the CGST Act, 2017 the time limit to avail pending ITC on invoices pertaining to FY 2023-24 is:
30th November 2024 for invoice pertaining to FY 2023-24; or
31st December 2024 i.e. date of filing annual return for FY 2023-24 whichever is earlier.

Venkateshwarlu Pulluri

Venkateshwarlu Pulluri (Querist)

21 November 2024 thank you sir, than we can claim with November-2024 return

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)

21 November 2024 October 2024 GSTR-3B can be filed up to 30th November 2024 along with applicable interest for cash liability. This will allow taxpayers to reconcile and make necessary amendments in outward liability or claim ITC in respect of purchases pertaining to FY 2023-24.
The return if just 'submitted' can be reset, thereby data can be changed.

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