ITC EXCESS CLAIM + RCM NOT PAID...BOTH FOR FY 2020-21......PAID IN FY 2024-25....EFFECT

This query is : Resolved

ATUL (Querist)
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25 November 2024 S MADE MISTAKE IN FY 2020-21 & CLAIMED....ITC....NOW PAYABLE 3 LAC + INT -PENALTY-2 LAC....NOW I CAN PAY 5 LAC......HOW MUCH REFUNABLE IN FY 2024-25...... AS ITC CLAIM IN JULY-2020....BILL REFLACTED IN JAN-2021.....SO NO CLAIM OR SET-OFF ??? IN FY 2020-21.... AS I AM PAYING 5 LAC WITH FOR NO-ITC + INT + PENALTIES.....THEN ACTUAL MY ...ITC...WHEN REFUNDED,,,,,,AS SHOWS IN GSTR-2A + GSTR 3B IN ...NEXT FOLLOWING MONTHS.... AS SO CASE IN....RCM ON RENT ...I WILL PAY FOR FY-2020-21...TODAY.....WILL IT REFUNDED IN FY-2024-25...AS I AM PAYING ..NOW FOR FY 2020-21...RCM ON RENT.... LOOK4U@REDIFFMAIL.COM

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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25 November 2024 ITC can't be claimed for the above payments now.
The time limit for ITC claims under GST is one of the given two dates, whichever is earlier: The due date to file the annual return for that financial year or. 30th November of the following financial year to which such invoice pertains.

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