Itc form non submission

[A J]

One of my client switched from composition to regular in fy 18-19..but we forgot to file itc form..how can the same be filed now?

AI Summary

Client Should Apply for Extension under Rule 40(1) CGST Rules 2017 to Rectify ITC Filing Lapse, Avoid Penalties. A client failed to file the ITC form after switching from the composition scheme to the regular GST scheme in the fiscal year 2018-19. To rectify this, it is advised to apply for an extension under Rule 40(1) of the CGST Rules, 2017, by notifying the jurisdictional Range Officer. If the extension is not granted, the input tax credit (ITC) on stock prior to the switch may be disallowed, and action under Sections 73 or 74 of the CGST Act may be initiated. It is recommended to inform the jurisdictional Commissioner to potentially avoid penalties and seek relief.