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Query regarding input tax

Mackie (Entrepreneur ) (287 Points)

15 October 2020

Hello friends,

Have couple of queries on input tax:

1) I will b claiming input tax fr fy 19-20 in this months gstr3b. Till when can i claim input tax earned frm March20 to sept 20 fr fy20-21?

2) while claiming input tax, i will hve to enter details in gstr3b. Do i need to fill details else where too? Do we also need to enter input tax details in gstr1?

note: We are a regular tax payer bd we file gstr1 quarterly.

thanks!

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26 Replies

Mackie (Entrepreneur ) (287 Points)
Replied 15 October 2020

Can nyone help? Wht is the last date of filing gstr3b? Is it 22 oct or 20 oct fr normal taxpayer less thn 1.5 cr turnover?

CA. Heet Shah (Tax Consultant & Practitioner) (6174 Points)
Replied 15 October 2020

You can claim the ITC any tym before September of next year or before date of filing annual return whichwhic is earlier

1 Like

CA. Heet Shah (Tax Consultant & Practitioner) (6174 Points)
Replied 15 October 2020

You just need to fill in tax amounts in GSTR 3b. You may confirm the same through 2A.

1 Like

pavan mykon (57 Points)
Replied 15 October 2020

We should not clime input before more than 180 days we can't take input

Mackie (Entrepreneur ) (287 Points)
Replied 16 October 2020

Originally posted by : Heet Shah
	You just need to fill in tax amounts in GSTR 3b. You may confirm the same through 2A.

Thanks Heet

Mackie (Entrepreneur ) (287 Points)
Replied 16 October 2020

Originally posted by : pavan mykon
	We should not clime input before more than 180 days we can't take input

Hi pavan very confused about what you said. Could you pls explain in detail about 180 days?

pavan mykon (57 Points)
Replied 16 October 2020

The buyer should pay the supplier for the supplies received within 180 days from the date of issuing the invoice. If the buyer fails to do so, the amount of credit they would have availed, will be added to their output tax liability.

1 Like

Ashwin Kumar (1229 Points)
Replied 16 October 2020

You can claim the inputs in the return which you are going to file on Oct 20...make sure you confirm the same with 2A...if it's not now then you can never be able to take input credit later

1 Like

Mackie (Entrepreneur ) (287 Points)
Replied 16 October 2020

Originally posted by : pavan mykon
	The buyer should pay the supplier for the supplies received within 180 days from the date of issuing the invoice. If the buyer fails to do so, the amount of credit they would have availed, will be added to their output tax liability.

Ok thnks Pawan! We have already paid the supplier immediately fr the services availed and also hve payment receipts. Thnks fr the info!

Mackie (Entrepreneur ) (287 Points)
Replied 16 October 2020

Originally posted by : Ashwin Kumar
	You can claim the inputs in the return which you are going to file on Oct 20...make sure you confirm the same with 2A...if it's not now then you can never be able to take input credit later

Yes ashwin! We have checked in the Tax Liability and ITC statement fr fy 19-20 and we have some unclaimed input tax as per gstr. 2a. Will b only claiming the same in this month gatr3b on 20 oct. Thnk!

1 Like

pavan mykon (57 Points)
Replied 16 October 2020

You can clime that ITC in the Annual Return of that FY ,you should wait for the time of FY annual return

CA. Heet Shah (Tax Consultant & Practitioner) (6174 Points)
Replied 16 October 2020

I doubt you can't claim ITC in annual return . iTC can only be claimed by gstr-3b as of now

1 Like

pavan mykon (57 Points)
Replied 16 October 2020

Taxpayer can still proceed to claim without reversal on the basis of Section 16 of the CGST Act, provided ITC is eligible. Nowhere to be shown in GSTR-9

Mackie (Entrepreneur ) (287 Points)
Replied 16 October 2020

Right Heet. Pavan, as per our knowledge we can only claim input tax fr FY 19-20 in Sept 20 GStr3b. Not sure if we can claim it in Annual return.
thnks!