Quick Summary
1. As per Section 16(4) of CGST Act, 2017, no taxpayer shall take input tax credit in respect records (invoices and debit notes) for supply of goods or services (or both) for Financial Year 2020-21 after the due date of furnishing the return for the month of September 2021. The due date for the GSTR-3B for September 2021 is either 20th October 2021 for monthly filers and 22nd or 24th October 2021 depending on the State/UT of registration of the taxpayer. In view of the same, the following may ki
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FAQ :
The deadline for claiming ITC for FY 2020-21 is linked to the due date of furnishing the GSTR-3B return for September 2021.
For monthly filers, the due date is 20th October 2021. For quarterly filers, it's the due date for the July to September 2021 quarter.
Such records will not reflect as 'ITC Available' in the recipient's GSTR-2B and will appear in the 'ITC Not Available' section. Consequently, the ITC won't be auto-populated in GSTR-3B.
Yes, records pertaining to FY 2020-21 reported after the September 2021 GSTR-3B due date will also not reflect as 'ITC as per GSTR-2A' in Table-8A of the recipient's GSTR-9.
Availing ITC contrary to legal provisions may lead to action by tax administrations in accordance with the law.
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