failed to file ITC-01

[priyesh agrawal]

sir,

what if assessee failed to file ITC-01 in 30 days? what are the remedies available to him? can he make an application to commissioner for extending the time?

ITC-01 is filled u/s 18(1)(c)

[DR.MARIAPPAN GOVINDARAJAN]

The assessee may approach the Commissioner for extension. Rule 40(1)(b) provides that the registered person shall within a period of thirty days from the date of becoming eligible to avail the input tax credit under sub-section (1) of section 18, or within such further period as may be extended by the Commissioner by a notification in this behalf, shall make a declaration, electronically, on the common portal in FORM GST ITC-01 to the effect that he is eligible to avail the input tax credit as aforesaid.

AI Summary

Input tax credit declaration requirement may be extended by the Commissioner; registered persons can apply for filing relief.
Rule 40(1)(b) requires the registered person to make an electronic declaration in FORM GST ITC-01 within thirty days of becoming eligible to claim input tax credit, but allows for a further period as may be extended by the Commissioner by notification; an assessee who misses the initial period may approach the Commissioner for an extension.