ITC CLAIM

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This query is : Resolved

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A client, an engineer with turnover less than ₹1.5 crore, incurred GST liability in March 2020. They received eligible Input Tax Credit (ITC) in April and May 2020 and wish to use this ITC to offset the March liability, especially since the GSTR-3B filing deadline was extended to June 30, 2020. However, the advice given is that ITC from April and May 2020 cannot be used to set off the GST liability for March 2020.

RAMGOPAL HS

RAMGOPAL HS (Querist)
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24 June 2020 MY CLIENT IS AN ENGINEER BY PROFESSION AND HIS TOTAL TURN OVER IS LESS THAN 1.50 CRORE IN THE FINANCIAL YEAR 2019-20 UP TO MARCH 2020.
MY CLIENT HAS GST LIABILITY FOR THE OUTWARD SUPPLIES DONE IN THE MONTH OF MARCH 2020.
THE CLIENT HAS GOT ELIGIBLE ITC FOR THE INWARD SUPPLIES IN THE MONTH OF APRIL AND MAY 2020. CAN HE CLAIM THE ITC OF THE APRIL AND MAY 2020 FOR THE GST LIABILITY OF MARCH 2020. HE SAYS THAT SINCE NOW GSTR3B CAN BE FILED TILL 30 JUNE 2020 AND HE THE AMOUNT OF ITC IN THE MONTH OF APRIL AND MAY 2020, HE CAN VERY WELL ADJUST THE SAME IN GSTR 3B TO BE FILED FOR THE MONTH OF MARCH 2020. PLEASE ADVISE
CA HS RAMGOPAL