Dear Sir
We forgot to claim gst input pertaining to financial year 2017-18 and 2018-19. The annual returns were also submitted without taking credit of input. But the expenditure has not been capitalised in the financial statements, it has been taken as input refundable in current assets of the balance sheet.
Is there any way that we can claim the same not???
Unclaimed GST Input Credit for 2017-18 and 2018-19 Time-Barred; No Legal Remedy Available Under Current Rules. A query was raised regarding the possibility of claiming unclaimed GST input credit for the financial years 2017-18 and 2018-19, which was not included in the annual returns. Three responses indicated that the input tax credit (ITC) for those years cannot be claimed as it is time-barred, with the deadline being the September return following the respective year or the filing of the annual return, whichever is earlier. The responses clarified that there is no legal remedy or refund available for such ITC, and it is not covered by any Supreme Court order. (AI Summary)
TaxTMI 
TaxTMI 
TaxTMI 
