INPUT TAX CREDI

[KERAGODEGOPALARAO ANANTHARAO]

DEAR SIR,

Banks are uploaded GST on bank charges of 2018-19 during 2019-20.Can I take the credit for the year 2019-20.

Invoice dates are mentioned are pertaining to 2018-19

[Ganeshan Kalyani]

Sir, the time period to take credit pertaining to FY 2018-19 is lapsed. You cannot take credit now for those credits.

[YAGAY and SUN]

However, In our view, you may have discussions with your Banker that why did uploaded data on bank charges pertaining to 2018-2019 in 2019-20.

[KASTURI SETHI]

You should have taken ITC in GSTR 3 B return on the basis of tax paid physical invoices lying with you during the year 2018-19 itself, without waiting for the details in GSTR 2A. Thus you could avoid time bar limit. Now it is time barred. At the same time, you should not suffer because of supplier's fault.

On 14.6.19, one company, namely, Tele Media Ltd. has challenged the legal validity of Section 16 (2) (c) &(d) and Section 16(4) of CGST Act in Delhi High Court. Last date of hearing was fixed on 18.9.2019. Keep track.

[KERAGODEGOPALARAO ANANTHARAO]

Thank you all sir, can i considers IPT and and can I put it ineligible ITC column sir

AI Summary

Input tax credit time-bar: late supplier uploads do not revive expired claim periods, claim in GSTR 3B promptly.
The operative rule is that Input Tax Credit must be claimed within the statutory temporal limits and by reporting in the prescribed return; credit for an earlier year cannot be claimed after the time bar. Taxpayers should have claimed ITC in their periodic GSTR-3B returns based on physical tax invoices received during the relevant year rather than waiting for supplier uploads. Taxpayers may engage the supplier about late uploads and, if credit is time-barred, treat amounts as ineligible ITC or expense. Ongoing litigation challenging eligibility and temporal conditions may affect future interpretation.