Dear experts,
I have some unavailed ITC of 2020-21 as per GSTR 2B.
And I believe that we can avail ITC of any prior period upto filing of return of tax period September of next year.
Also, we can avail ITC in excess of as shown in GSTR 2B only upto 10% of eligible ITC.
Portal does not allow availment of more than 10% of ITC.
So how can I avail ITC of FY 2020-21 in return of April 2021?
Kindly advice.
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Availment of unavailed ITC of FY 2020-21 in April 2021
Replies (2)
Max ITC is capped at 105% of value as per GSTR2B (i.e. 5% over GSTR2B figures, not 10%).
You may add the missing ITC in the subsequent GSTR3B.
Thank you mam, but I did not get that how do I avail the unavailed ITC of previous year in current year tax return? Since the portal does not allow ITC more than 5% of GSTR 2B.
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