ITC availment for FY 2018-19

[Charan N]

Good Morning to all,

Can anyone please clarify my doubt. We have filed GSTR 3B of March 19 in the month of Dec 2019. Now the department sent notice for reversal of ITC as the FY 2018-19 ITC claim due date over as per Section 16(4). As per this section and what I understand upto my knowledge is the after the due date of furnishing of the return for the September month. But here inmy case I filed 3B of March before September and not calimed ITC in September or later month. Please guide me on this as this is very important to me now.

[Himansu Sekhar]

Credit availment is done through GSTR-3B returns. Since you have filed march return in dec. You have surpassed the oct. 20 deadline. ITC is not available to you

AI Summary

Input tax credit deadline: late filing of the monthly return bars credit availment for the prior fiscal year.
The operative rule is that availment of input tax credit depends on filing the prescribed monthly return within the statutory cutoff for the relevant financial year; a return filed after that cutoff means the credit for the earlier year cannot be availed and may be subject to reversal.