GST INPUT ON NIL RETURN
This query is : Resolved
15 April 2024
Hi,
I am not doing any business since last year, but i am filing NIL return Qtly, last Qtr. i bought some thing for my business use which credit amount is showing in my id for claim.
now what should i do.
1. Should i file NIL return as usual and ask refund of credit amount separately.
2. Should i keep credit amount for coming months returns (and how long i can keep it)
3. Can i claim it with NIL return.
I am not doing any business since last year, but i am filing NIL return Qtly, last Qtr. i bought some thing for my business use which credit amount is showing in my id for claim.
now what should i do.
1. Should i file NIL return as usual and ask refund of credit amount separately.
2. Should i keep credit amount for coming months returns (and how long i can keep it)
3. Can i claim it with NIL return.
15 April 2024
If that goods are intended to be used in the course of business, then you can claim it with nil output return
15 April 2024
you wont get refund of this amount separately.
The credit can be claimed before earlier of 30th November of the next financial year and the date of filing the annual returns in form GSTR-9 relating to that financial year.
You can claim input credit only against a sales invoice. So filing nil return wont serve any purpose here. After the above mentioned dates, the input credit too will become ineligible
The credit can be claimed before earlier of 30th November of the next financial year and the date of filing the annual returns in form GSTR-9 relating to that financial year.
You can claim input credit only against a sales invoice. So filing nil return wont serve any purpose here. After the above mentioned dates, the input credit too will become ineligible
16 April 2024
1. No. Don't file Nil return if You have purchase input tax as per Your query. File GSTR 3b with the said Input Tax. It's can't be claim as refund. ... 2. You can utilise this ITC in Your future Sales.....
(Once You avail the ITC through GSTR 3b then it will utilise any of the future returns. It's can't be lapsed.)
16 April 2024
please read section 16(4) of CGST act.
16 April 2024
Refer the section, It's without claim through return. Not for balance credits in Electronic Credit Ledger. Electronic Credit Ledger Balance not lapsed and it can be use future business sales.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- PPF interest-As Exempt Income disclosure
- Pass word to open justification report for Q1 for FY 2026-27
- Scrutiny and reopening of past returns
- Under construction property in ITR
- Section 194JA & JB Income which ITR Form to use
- Upload Level ValidationITR3Category of Defect B/D
- Building tax payment deduction in rental Income
- Not able to file ITR
- Presumptive income under Income tax act 2025
- Rental income of jointly held property
- Regarding ITR filing with more value than showing in AIS/TIS
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
