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Input tax credit

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due to wrong return filed by client input of 2 lakh is not taken in fy 2018-19, but now he correct his return, so there is any possibility to take that input tak credit.
Replies (4)
No...... now you cannot claim the same .
As per Section 16(4) , the credit for the same can be claim till September 2019 .
You can't claim the credit now Sir since the last date of claiming ITC for FY 2018-19 has expired.

As per the Provision of Section 16(4) of the CGST Act 2017, the last date to claim ITC for a FY is the DUE DATE OF FILING RETURN FOR THE MONTH OF SEPTEMBER or the DATE OF FILING ANNUAL RETURN, whichever is "EARLIER".

Therefore, the due date of filing September 2019 Return i.e. 20.10.2019 was the last date to claim ITC pertaing to FY 2018-19.

Note, the requirement to match GSTR 2A (GSTR 1 filed by vendor) was applicable from 1st October 2019 only. Therefore, if you had a valid invoice, received goods/services, and made full payment to the vendor, the ITC is your right and is eligible. You should've claimed irrespective of the vendors returns.

Also, when did vendor correct his return? Was it before time limits (20th Oct 2019?) If yes, then agree with above answers. 

 

The due date of filing September 2019 Return i.e. 20.10.2019 was the last date to claim ITC pertaing to FY 2018-19. 

So you cant take ITC credit now.


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