GSTR2B

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A business owner is seeking advice on claiming Input Tax Credit (ITC) for March when their supplier filed their GSTR-1 late. The ITC amount is substantial (Rs. 28 lacs) and won't appear in the GSTR-2B for March. The advice suggests that since Section 16 amendments haven't been notified and there's no specific rule mandating GSTR-2B for ITC claims, it's reasonable to claim the ITC based on GSTR-2A.

DHARMESH SONI

DHARMESH SONI (Querist)
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14 April 2021 Mar 21 GSTR 1 not filed by supplier till 11 Apr. (Filed on 14 Apr.) Total ITC of particular supplier is Rs. 28 lacs. Can We take ITC in march ? if not taken in march and GST paid then can we take REFUND ? ITC will show in credit ledger in next month and so on, because of the large amount can not square off.

CS Advocate Abhishek Goyal

CS Advocate Abhishek Goyal (Expert)
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15 April 2021 It will not show in your 2B but will show in 2A of that month only. Since amendment to section 16 has not been notified as yet and the Government has not issued any notification specific that ITC to be claimed only on the basis of 2B, and in view of big amount involved it makes sense for you to claim it on the basis of 2A.

DHARMESH SONI

DHARMESH SONI (Querist)
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15 April 2021 Thanks four your valuable reply.

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