As you are aware, in terms of provisions of Section 16(4) of the CGST Act, 2017 any of the registered persons filing their GSTR-3B return in respect of the last two financial years (July 2017-March 2018 and 2018-19) after 30.04.2019 and 20.10.2019 respectively, could not have availed any credit on invoices or a debit note pertaining to the relevant financial year except in respect of IGST paid on import of goods by such registered persons. Accordingly, any credit availed in violation of provisions of Section 16(4) is inadmissible.
2. Records indicate that you have filed your GSTR-3B return for 11-2018 after the said due dates in which you have availed credit of Rs.56440.52 which is inadmissible under Section 16(4) of the CGST Act, 2017.
3. You are advised to deposit the amount equivalent to tax paid using such inadmissible credit through FORM DRC-03 with applicable interest.
4. In case the opportunity for voluntary compliance as suggested is not availed, appropriate action for recovery of tax paid using such inadmissible credit with interest and imposition of penalty shall be initiated as per the law.
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Notice u/s 16(4)...need reply
Replies (5)
Everyone is getting the same notice
Any probable reply?
One can not escape from such notices.
Following points my be considered for the above:-
1. As per my knowledge, last date for availing ITC for FY 2017-18 was 31.03.2019 but notice says 30.04.2019.
2. If you have claimed ITC in Nov.2018 gstr3b and filed it after 20.10.2019, you are bound to reverse it.
3. Yet, since cases of GSTR 9 n 9C are still going on with dates extended many times, we can expect a date extension for availing ITC also.
Hope this will help.
Regards
Following points my be considered for the above:-
1. As per my knowledge, last date for availing ITC for FY 2017-18 was 31.03.2019 but notice says 30.04.2019.
2. If you have claimed ITC in Nov.2018 gstr3b and filed it after 20.10.2019, you are bound to reverse it.
3. Yet, since cases of GSTR 9 n 9C are still going on with dates extended many times, we can expect a date extension for availing ITC also.
Hope this will help.
Regards
Dont worry nothing to do this is only advisory i m sure there is no DIN number in this mail so nothing to do on it .. it only for beware tax payers
It is possible as due dates for ITC is over for both returns if it was filed after March 19 for 17 -18 and Sep 19 for 18-19.
But client can come out from situation if they select actul month in filling abd discharged liablity along-with Interest .
But client can come out from situation if they select actul month in filling abd discharged liablity along-with Interest .
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