Dear Sir,
This is to bring into your attention that I have opted for regular scheme from composition scheme So I missed due date to file itc 01. Please do the needful.
Regards
Lovelesh Soni
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I have missed due date to claim itc 01
Replies (2)
Quick Summary
If you've opted out of the composition scheme and missed the deadline to file ITC-01, you can still file it belatedly with some conditions: 1. _File ITC-01_: Submit Form ITC-01 manually or online within 30 days from the date of opting out of the composition scheme. 2. _Interest and Penalty_: Pay interest and penalty as applicable for the delayed filing. 3. _Explain the reason_: Provide a valid reason for the delay in filing ITC-01. 4. _Departmental discretion_: The department may accept or reject your belated filing based on their discretion. 5. _Consult a professional_: Reach out to a tax consultant or chartered accountant for guidance on the process and any additional requirements. Additionally, you may need to: - File GSTR-3B for the relevant tax period - Pay tax and interest due - File compliance with GST regulations.
Good morning Sir, Last July 31 I converted my GST into regular from composite. I could complete the available stock details by 1st of Aug. While submitting ITC 01 in my GST account it is does not allow. I could not find any scope to enter into ITC submission portal in GST site. Please guide me for any alternative to get credit of GST through ITC.
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