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ITC LAPSED
MY CLIENT HAD ITC IN ELECTRONIC CREDIT LEDGER RS 235000/-IN THE MONTH OF 07/2018.AFTER THAT WE CANNOT FILE GSTR 3B DUE TO HUGE LIABILITY. NOW MY QUERY IS 235000/- ITC IS IN FORCE OR LAPSE. IF LAPSE RELATES To Which SECTION. PLEASE CLARIFY GST EXPERTS
Replies (2)
If your registration is cancelled and cannot be restored then it is lapsed
Yes agree with CA Zafer
if return not has been filed from July 2018 onward , your registration must be got cancelled subject provision of Section 29 of CGST Act & the ITC is lapse in that case.
if return not has been filed from July 2018 onward , your registration must be got cancelled subject provision of Section 29 of CGST Act & the ITC is lapse in that case.
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