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ITC RECLAIMED
whether excess reversal under rule 42 to of input tax credit of 2017-18 Under GST act, can be reclaimed in 3b for the financial year 20-21?
Replies (5)
Quick Summary
Yes ITC can be claimed
Yes it can be reclaimed
Can you provide the provision related to above question
Rule 42 & 43 of cgst rule if we provision reverse made excess than final reverse then we can claim what we made provision excess than final before sep of next year but rule if made excess reverse we have re credit that to before sep month of next year relevant supply made
No.... the ITC cannot be reclaimed now .
It's clearly prescribed in proviso u der Section 16 (4) of CGST Act , can be claimed till September 2018 .
Note : As per RoD 2/2018 for Fy 2017-18 it's being extended to 31/3/2019
It's clearly prescribed in proviso u der Section 16 (4) of CGST Act , can be claimed till September 2018 .
Note : As per RoD 2/2018 for Fy 2017-18 it's being extended to 31/3/2019
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