What is the last date to claim and reverse the itc of 2019-2020Is it 20th october 2020 or any other date plz tell
Replies (3)
Quick Summary
This discussion clarifies the deadline for claiming and reversing Input Tax Credit (ITC) for the 2019-2020 financial year. The last date to avail or reverse ITC is generally the due date for filing the GSTR-3B for September 2020, which varies between 20th October and 24th October depending on turnover. Importantly, there isn't a specific due date for reversal itself; ITC for 2019-2020 can be claimed up to the due date of the September return or the annual return filing date, whichever comes first.
The lats date to avail/reverse ITC shall be the due date of filing GSTR-3B for the month of September'2020. The last date can be 20th October or 24th October based upon the your turnover.