Last Date for Taking Input Tax Credit

If we forget to take ITC in current financial year,we can take it in Next Financial Year till Sep Return(GSTR3B) of Next Year

Example

Invoice of                   Last Date to take ITC

2020-21                       Sep 2021 GSTR3B Return

2019-20                       Sep 2020 GSTR3B Return

2018-19                       Sep 2019 GSTR3B Return

2017-18                       Sep 2018 GSTR3B Return Extended to Mar 2019 Return

Last date of Taking ITC.jpg

 

Rule

As per Section 16 of GST

Last Date of Taking Input Tax Credit is

  1. Due date of furnishing of the return under section 39 for the month of September following the end of financial year to which such invoice or invoice relating to such debit note pertains or
  2. furnishing of the relevant Annual Return, whichever is earlier.

 

Note

This Annual Return is normally filed in Dec Next year and date extended every year

So for all practical purpose, due date is Sep of Next year

 

 

Example

Invoice Date is 10 June 2020

It is of Financial Year 2020-21

End of Financial Year is in 31 March 2021

September following End of Financial Year is Return of September 2021

Suppose Due Date of Return of September  2021 is  20 October 2021

Hence

Last Date of taking Input is Sep 21 Return to be filed by 20 Oct 2021

 

  1. GST - Goods and Services Tax, India
  2. GST Computation & Accounting

About the Author

CA Maninder Singh's photo - Expert in Practical Accounts, Taxation and Efiling
CA Maninder Singh
CA Maninder Singh is a Chartered Accountant for the past 10 years. He also provides Accounts Tax GST Training in Delhi and Pune.