Cut off date to Avail the GST Tax benefits

[KUMAR Narasimhan]

Dear Sir/ Madam,

For FY 19-20, Output tax Incorrectly processed between IGST to CGST and SGT in GSTR-3B, this correction to be made on or before of September in next Financial year. But please clarify is there any due date extension further due to covid to do this adjustment.

What is the due date to avail ITC for FY 19-20

[SOWMYA CA]

All corrections / Changes pertaining to a financial year to be before filing of September 2020 Return (Finance Act 2022 - date changed to Nov 30th ) or filing of annual return whichever is earlier. The due date to avail ITC will be same as above

[Ganeshan Kalyani]

I agree with Ms. Sowmya's view. The time limit to make correction in outward statement is prescribed to enable the recipient to claim ITC. However liability is still payable if it is yet to be paid.

As regard ITC the time period is elapsed.

[Shilpi Jain]

If you have wrongly paid tax as C&SGST instead of IGST or vice versa, then s 77 of CGST Act or s 19 of IGST can come to your rescue. The wrong tax can be claimed as refund and the correct tax be paid.

There is alos a circular issued in this behalf

AI Summary

GST cut-off for input tax credit: corrections must be filed by the prescribed return; refund remedy exists for misallocated tax.
Corrections for a financial year must be made before filing the prescribed return for the specified month in the next financial year or before filing the annual return, whichever is earlier; the same cut off applies to availing input tax credit. Misallocation between integrated and central/state tax can be remedied by claiming a refund of the wrongly paid tax and paying the correct tax, pursuant to the GST refund/remedial provisions, and a departmental circular addresses the procedure.