Itc for the fy 2017-18 year ending march 18

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TARIQUE RIZVI (Querist)
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01 November 2018 YESTERDAY DATED 31-10-2018 WE HAVE FILED TAX AUDIT REPORT AND NOW WE HAVE COME TO KNOW THE EXACT ITC WHICH REMAINED LEFT OUT WHILE FILING GSTR-3-B FOR THE MONTH OF SEPTEMBER 2018 AND NOW WHETHER STILL ANY FURTHER CHANCE IS EXPECTED TO TAKE THE LEFT OUT ITC OR WHETHER HAS BEEN FORFEITED AND IT IS REALLY BIG SUM ON ACCOUNT OF REVENUE LOSS OF OUR COMPANY. EITHER INCOME TAX DEPARTMENT SHOULD CONSIDER THE LEFT OUT ITC AS A BUSINESS EXPENSE OR GST DEPARTMENT SHALL GIVE ANOTHER CHANCE TO CLAIM THE LEFT OUT ITC. AVAILMENT OF THE LEFT OUT ITC IS HUMAN RIGHT WHICH SHOULD NOT BE FORFEITED.

CA Amrita Chattopadhyay

CA Amrita Chattopadhyay (Expert)
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02 November 2018 ITC can be claimed in the next month specifically mentioning the month for which you want to make the rectification.

TARIQUE RIZVI

TARIQUE RIZVI (Querist)
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04 November 2018 Amrita madam thank u for giving me prompt reply. Actually I am talking about the left out ITC for the fy 2017-18 which could not be taken into the GSTR-3-B of Sept 2018.Whether any extension for taking the said ITC is expected ? or whether the CA Institute has filed any petition for any further extension. If by the way extension is not given, the left out ITC whether will get forfeited ? In such situation it will be a big loss of the dealers. Please let me know if any updation on this issue has come into picture. I shall be highly obliged.

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