Go AD-Free with CAclubindia Pro and get Daily WhatsApp Updates. Subscribe Now!

Demand for reversal of ITC claimed for Input of January 2020 but Return filed on 29th December 2020.

This query is : Resolved

Sudipta Das (Querist)
Follow

07 September 2024 I have received a Demand in DRC 07 for ITC claimed for Inputs purchased on January 2020. But the GSTR 3B for the month of January 2020 was filed on December 2020. Since it was claimed after September 2020. Can I claim relief Under Section 16 Subsection (5) now or will I have to wait for the notification for the same to be released.

CS Advocate Abhishek Goyal

CS Advocate Abhishek Goyal (Expert)
Follow

10 September 2024 In 54th Council meeting held on 09.09.2024, it has recommended to insert section 148 for rectification of orders where demand has been created on this issue. also section 16(5) is recommended to be notified at the earliest. So wait till the notification. you can file rectification within 3 months.

Sudipta Das

Sudipta Das (Querist)
Follow

10 September 2024 Thankx for your reply.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok