Claiming itc on stock held -from composite to regular

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Nagaraju Balusupati (Querist)

10 June 2019 please suggest me,
i have converted from composite to regular dealer on 20-04-2019,now (10-06-2019) i would like to file 3B for the month of april-19(21-04-2019 to 30-04-2019).but before that i am trying to fill form itc-01 for taking input tax credit on stock held by me as on 20-04-2019.but in portal it is not accepting to enter values and showing like( Due date of filing claim of input tax credit through Form GST ITC-01 under clauses (C) of sub-section (1) of section 18 is over. The claim cannot be filed now.)or like( Due date of filing claim of input tax credit through Form GST ITC-01 under clause (d) of sub-section (1) of section 18, based on the date of notification specified, is over. The claim cannot be filed now).
please suggest me that,
1.is there any time limit for taking input tax credit after conversition from composite to regular?
2.is there any circular refering it?
3.if i am not able to claim input tax credit,can i get back to regular to composite right now?

R. B. Yadav (CMA, LLB)

R. B. Yadav (CMA, LLB) (Expert)

11 June 2019 Hi,

1. time limit to file ITC-01 is 30 days only from the effective date of becoming eligible to avail input credit. Because you are filling ITC-01 after expiring of a period of 30 days, it is showing that message.

2. Kindly refer rule 40(1){b)
3. can't be changed again in this financial year.

Nagaraju Balusupati

Nagaraju Balusupati (Querist)

11 June 2019 Sir, if i have given reasons for delay in submitting ITC-01,is there any chance to get the input tax credit on stock?

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