MISSING ITC In the Month of March2018

[Ravikumar Doddi]

Dear sir,

Some of the input tax was missed out to claim in 3b return for the month of 2018, As per Section 16(4) of CGST Act provides maximum time limit was prescribed to claim missed out ITC not later than furnishing of the return for the month of Sept following the end of financial year or furnishing of the relevant annual return which ever earlier, I found the missed out ITC of March in the month of June2018 can claim in June2018 return ITC belong to March 2018 or should I claim in annual return which is scheduled to in Dec. Pl clarfiy, If I claim the missed out purchcase belong to March in the month of June2018 it is again a mismatch for June2018 can I do so with reconcilation. As per 26/26/2017 dt; 29-12-2017, if any missed out ITC or OTC you can show in Next month, it is appropiriate if it belongs to the same financial year. How to do, what is alternate remedy, please clarify

AI Summary

Claim Missed GST Input Tax Credit by September Return or Annual Return, Whichever Comes First A participant in a discussion forum raised a query about claiming missed Input Tax Credit (ITC) for March 2018 under the Goods and Services Tax (GST) regime. They discovered the missed ITC in June 2018 and inquired whether it should be claimed in the June 2018 return or the annual return due in December. A response clarified that ITC cannot be claimed after the September return following the end of the financial year or the annual return, whichever is earlier. The participant further questioned the process of claiming ITC in subsequent returns and the need for reconciliation.