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Availment of unavailed ITC of FY 2020-21 in April 2021

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Arpit

Student

84 Points Posted on 12 August 2021

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.

Replies (2)

Quick Summary

This discussion addresses how to claim unavailed Input Tax Credit (ITC) from the financial year 2020-21 in the April 2021 tax return. The user is confused because the GST portal limits claiming ITC to 105% (5% over GSTR-2B figures) of the amount shown in GSTR-2B. Experts clarify that any eligible ITC beyond the GSTR-2B amount, up to the 105% limit, can be added in the subsequent GSTR-3B filing.

CMA Poornima Madhava

CMA

9106 Points Posted on 13 August 2021

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.

Arpit

Student

84 Points Posted on 13 August 2021

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.