Not filed itc 03

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22 Points Posted on 08 April 2020
What are the consequences ? I have opted composition scheme from 01/10/2017 and not filed ITC 03 till now My credit ledger balance as at 30/09/2017. Rs.3000/. can you file any more itc03 Please any advice
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On 08 April 2020 at 05:09 Report
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Quick Summary
This discussion addresses the consequences of not filing Form ITC-03 for the composition scheme after the deadline. The consensus is that direct ITC-03 filing is no longer possible due to the expired due date. However, filing Form DRC-03 to reverse the credit ledger balance with applicable interest is recommended as a viable alternative. This is advised to be done proactively to avoid potential show cause notices.

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602 Points Posted on 08 April 2020
You can not file Such Form because its due date is leaped i. e 90 days from date on which scheme opt
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On 08 April 2020 at 10:14
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22 Points Posted on 08 April 2020
Please give another suggestions
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On 08 April 2020 at 10:26
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602 Points Posted on 08 April 2020
There is no other option because such matter is F.Y 2017-18 which very old
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On 08 April 2020 at 10:35
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GST Practitioner
55067 Points Posted on 08 April 2020
Can file DRC 03 & reverse the Balance lying in Credit ledger.(reversal must be done with interest)
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On 08 April 2020 at 13:04
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22 Points Posted on 08 April 2020
ITC 03 Filing is for 17-18 , can I file this?
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On 08 April 2020 at 20:02
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GST Practitioner
55067 Points Posted on 10 April 2020
Yes , you can file DRC 03, in fact it's better to file the same before you get any SCN (refer rule 142)
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On 10 April 2020 at 12:35
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22 Points Posted on 10 April 2020
Sir DRC 03 OR Itc 03
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On 10 April 2020 at 13:07

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