Itc claim gstr3b

Sir,

Most of my suppliers are in quarterly returns. They will fill gstr1 by 30th april 2020 , even if i receive supplies in jan 2020.
As per new rule i can't claim this itc in gstr3b untill gstr2a reflects them.

Now how will it be possible for me to keep itc claim pending for 4 months ? I will have to pay liability in cash and it will make cash liquidity issues for me.
Please advice if my understanding is correct or not ? Is there any way to resolve this issue ?
Replies (6)
Quick Summary
This discussion addresses the challenges faced by businesses filing GSTR-3B who receive supplies from quarterly filing suppliers. The core issue is the inability to claim Input Tax Credit (ITC) until it appears on GSTR-2A, leading to a four-month delay and potential cash flow problems. Participants explore whether current rules are correctly understood and seek government intervention for a more practical solution that supports working capital for monthly filers.

This is the issue where the govt intervention is required.

all monthly filers are facing this issue. also their argument is with justice that why not to claim the right ITC which is actually theirs .

working capital is getting locked .

as of now, we have no other go except obeying the rules.
hoping the govt will take necessary adjustments or updations in the favour of monthly filers
@ Mr Ankit & Ms SOWJANYA.,


As per my view.,

The limit can be avail based on quarterly wise. ITC will be monthly claim as per our books and condition may be consider quarterly base...

Also.,

(bcoz, the gstin msg to mobile as quarterly base).
Yes agree with Mr. Raja Ji.
As per Notification 45/2019 CT , the taxpayer whose turnover is below 1.5 core can file his outward supply on Qtly basis .
This Notification is being Issued under the power conferred Under Section 148 of CGST Act

As per Notification 46/2019 CT the taxpayer whose turnover is above 1.5 core is liable file his outward supply Monthly .
This notification issued under power conferred under Provisio to Section 37(1) & Section 168 of CGST Act .

Hence the Small tax payer whose turnover is below 1.5 crore do not govern under Section 37 but they are govern by Section 148 of CGST Act . so It's my view that small taxpayer do not cover under Notification 49/2019 CT.

Note : But in case any Notice is reced. in this regard ,it's depends on the Accessing Officer whether he is ready to accept the same not imposing penalty & interest. Moreover its also depend how you present your case & convince him or not.
Dear sirs,the monthly payers for example quarterly filers for oct Dec they have time till Jan 31. whereas monthly filers for Dec it's Jan 20
even for the quarter ending the actual ITC they are not supposed to claim. only at the time of filing Jan returns they claim for the previous quarter.

here comes the confusion sir
Originally posted by : SOWJANYA M
Dear sirs,the monthly payers for example quarterly filers for oct Dec they have time till Jan 31. whereas monthly filers for Dec it's Jan 20even for the quarter ending the actual ITC they are not supposed to claim. only at the time of filing Jan returns they claim for the previous quarter.here comes the confusion sir

 

Yes... You are correct. The said difficulties is very bad condition to Quarterly filers. Bcoz, Their customers avoid business to them. Also some of my clients face the problem...

 

But,

As per my view is stand in my clients files. May be dept can be rectify this shortly...

 

Further activities based our own interest / segregation of  ITC who can file correctly...

Yes sir. department has to clear this at earliest for smooth travel in business environment.

but one positive side is that the dept. indirectly pushing the monthly filers to make the quarterly filers to file their GSTR1 before due date.

the monthly filers are doing follow up works effectively.😀

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