Input Tax Credit

[VIGNESH]

Sir. For the financial year 2018-2019 assessee failed to file GSTR 3B returns bur he has filed GSTR-1 and he has now filed GSTR-3B for all the pending months during Nov-2020 and claimed ITC, now AO is asking to Reverse the ITC bcs it is lapsed and cannot claim as date of Filing the said returns has ended. is there any binding section in favour of Assessee

AI Summary

Company Faces ITC Reversal for Late GSTR-3B Filing; Experts Debate Legal Interpretations and Deadline Compliance An individual from a private company sought advice on claiming Input Tax Credit (ITC) for the financial year 2018-2019 after filing GSTR-3B returns late in November 2020. The Assessing Officer demanded the reversal of ITC, citing the expiration of the filing deadline. Various experts responded, noting that the deadline for claiming ITC was October 20, 2019, and that procedural lapses could not justify ITC claims. Some suggested contesting the matter, arguing that GSTR-3B might not be considered a return under certain legal interpretations. However, others emphasized that retrospective amendments and legal provisions limit the ability to claim time-barred credits.