TaxTMI 
TaxTMI 
TaxTMI 
As per Section 16(4) of CGST Act,2017 , 'A registered person shall not be entitled to take input tax credit in respect of any invoice or debit note for supply of goods or services or both after the due date of furnishing of the return under section 39 for the month of September following the end of financial year to which such invoice or invoice relating to such debit note pertains or furnishing of the relevant annual return, whichever is earlier.'
And with reference to a recent press release which clarifies Section 39 as the section to be considered for GSTR-3B. It means as per CBIC intentions, you should not claim more legitimate ITC after September return.
As per Proviso to Sec.37(3), Government want no rectification of error or omission of return of Sec.39(1) and if we read same combining with the recent press release. That would simply mean that you cannot rectify GSTR-1 details as well as GSTR-3B after September return.
But if we go by the intention of Sec.64,66, 71, 72, 74, 78 of CGST Act, 2017, which mainly refers to protection of the interest of revenue. We can always increase the output liability in GSTR-3B and pay the due tax with applicable interest and penalty.
So, We, taxpayers will not be able to claim legitimate input tax credit pertaining to FY 2017-18 and we cannot reduce the output tax in order to rectify any error or omission. But we can increase the output tax liability or reduce input as it refers to protection of revenue of department.
No rectification of error or omission after GSTR-3B of September
Aman Gera
Taxpayers cannot claim ITC or amend GSTR-1/GSTR-3B after September's return for FY 2017-18 under Section 16(4). Under Section 16(4) of the CGST Act, 2017, taxpayers cannot claim input tax credit (ITC) for invoices or debit notes after filing the GSTR-3B return for September following the end of the financial year. A recent clarification indicates that no rectification of errors or omissions in GSTR-1 or GSTR-3B is allowed after this return. Although taxpayers can increase their output tax liability, they cannot claim ITC or reduce output tax for FY 2017-18 after September's return. Concerns were raised about the lack of flexibility for first-year GST filers, suggesting the deadline should align with the annual return filing. (AI Summary)