input claim

[mathur ramachandran]

Sir,

My corporate assessee is filing quarterly returns and their annual turnover for Fy 22-23 is only 5041233/- - They have omitted to claim input credit of 19784.90 for the quarter ending 30.9.22 – I understand that they are exempted from filing annual return for the fy 22-23-

My query is whether the said input for the period Q2 of FY 22-23 can be claimed now before 30.11.23 – If yes, can it be claimed in the GSTR-3B for October 23 and also please advise me as to the procedure for claiming it

AI Summary

Input tax credit deadline permits late claim before the statutory cutoff; report it in GSTR 3B and expect compliance intimation.
The ability to claim omitted input tax credit for a prior financial year is subject to the cutoff of the thirtieth day of November following that year or earlier filing of the annual return. If the annual return is not filed, the credit can be claimed before that cutoff and must be reported in the current-period GSTR-3B (Table 4A5). Rule 88D creates an electronic verification and intimation process (FORM GST DRC-01C) where discrepancies between GSTR-3B and GSTR-2B may require payment via FORM GST DRC-03 or an explanation on the portal.