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

[YAGAY andSUN]

ITC shall not be allowed on an invoice after the filing of monthly return for the month of September following the end of F.Y. to which the invoice relates or filing of relevant annual return (due date 31st December of next FY), whichever is earlier. Effectively, there is an 18-month window for availment of credit in respect of invoices issued in the month of April of the financial year and 6-month window in respect of invoices issued in the month of March of the financial year.

[Ravikumar Doddi]

ok sir, where should I claim in 3 b of 18-19 which is available up to Sept18 belongs to last financial year or I can show in annual return which ever is earlier my apprehension is if I show in 18-19 belongs to 17-18 again should l file reconciliation is not it. I can do so or not.

AI Summary

Time limit for claiming input tax credit: claim by the September return following the financial year or in annual return. Missed input tax credit for March invoices may be availed only up to the filing of the return for the month of September following the end of the relevant financial year or the filing of the relevant annual return, whichever is earlier. This creates a limited availment window for March invoices; claims must be included in a subsequent monthly return or the annual return only if made within that statutory period, otherwise the credit is not allowable.