Import IGST ITC @18 fy 2019 20

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159 Points Joined October 2017
this is to inform you that I had not claimed IGST Import tax @ 18% for the financial year 2019 20 please suggest me now how to claim igst ITC
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On 30 July 2024 at 21:48 Report
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Master in Accounts & high court Advocate
9447 Points Joined December 2011

If you didn't claim IGST (Integrated Goods and Services Tax) Import tax credit for the financial year 2019-20, you can still claim it by following these steps: 1. _Check eligibility_: Verify if you're eligible to claim IGST ITC as per GST regulations. 2. _Gather documents_: Collect necessary documents, including: - Import invoices - Customs duty payment receipts - GSTN (Goods and Services Tax Number) - GSTR-2A (GST Return) 3. _File GSTR-3B_: Submit GSTR-3B (Summary Return) for the relevant quarter, including the IGST ITC claim. 4. _File GSTR-1_: Submit GSTR-1 (Detailed Return) for the relevant quarter, including the IGST ITC claim. 5. _Claim ITC_: Claim IGST ITC in GSTR-3B and GSTR-1 returns. 6. _Interest and penalty_: Be prepared to pay interest and penalty, if applicable, for delayed ITC claim. 7. _Consult a CA_: Consider consulting a Chartered Accountant to ensure accurate claim and compliance. Note: The deadline for claiming IGST ITC for FY 2019-20 may have expired. You may need to file a late return or seek permission from the GST authority to claim ITC. Please consult a tax professional or GST expert for personalized guidance.

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On 31 July 2024 at 18:40


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