I have missed due date to claim itc 01

ITC / Input 240 views 1 replies
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1 Points Joined August 2024

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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On 23 August 2024 at 01:38 Report
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Master in Accounts & high court Advocate
8913 Points Joined December 2011

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.

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On 23 August 2024 at 12:42


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