Dear sir/mam,
Kindly provide clarification on how to claim Excess ITC available in annual return of f.y.2020-21?
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***GSTR 9 -ITC ***
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Quick Summary
A taxpayer has the option to report breakup of ITC in separate rows of inputs, capital goods and input services in tables 6B to 6E, or the entire amount can be reported only under the “inputs” row. Total amount of Input tax credit availed through Form GSTR-3B.1
You can report the excess ITC in annual return but claim the same or get it transfer in credit ledger you need to report it in GSTR 3B .
So if any excess ITC which is being reported in annual return for fy 20-21 being not report till sept- 21 of 3B will be lapse.
you won't be able claim the same. (Refer Section 16(4))
So if any excess ITC which is being reported in annual return for fy 20-21 being not report till sept- 21 of 3B will be lapse.
you won't be able claim the same. (Refer Section 16(4))
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