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

For FY 2017-18(1 Apr 2017 to 31 mar 2018),we can take it till Sep 2018

This has been extended to March 2019 GSTR3B Return for FY 2017-18

(whose due date was 20 23 Apr 2019)

 

However for fy 2018-19,it has not been extended yet

So it is Sep 2019 GSTR3B Return which is 20 Oct 2019

 

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.

 

 

Example

Invoice Date is 10 June 2017

It is of Financial Year 2017-18

End of Financial Year is in 31 March 2018

September following End of Financial Year is Return of September 2018

Suppose Due Date of Return of September  2018 is  20 25 October 2018

Hence

Last Date of taking Input is 25 Oct 2018

Annual Return is to be filed by 31 June 2019

Earlier is 25 Oct 2018

So due date was 25 Oct 2018

However it has been extended to  March 2019 GSTR3B Return which is 20 23 Apr 2019

 

  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.