1. As per Section 16(4) of CGST Act, 2017, no taxpayer shall take input tax credit in respect records (invoices and debit notes) for supply of goods or services (or both) for Financial Year 2020-21 after the due date of furnishing the return for the month of September 2021. The due date for the GSTR-3B for September 2021 is either 20th October 2021 for monthly filers and 22nd or 24th October 2021 depending on the State/UT of registration of the taxpayer. In view of the same, the following may kindly be noted:
i.) Records (invoice or debit notes) pertaining to Financial Year 2020-21 reported in GSTR-1 after due date of GSTR-3B of September 2021 will not reflect as “ITC Available” in GSTR-2B of the recipients. Such records will reflect in “ITC Not Available” section of GSTR-2B and such ITC shall in turn not be auto-populated in GSTR-3B.
ii.) Records (invoice or debit notes) pertaining to Financial Year 2020-21 reported in GSTR-1 after due date of GSTR-3B of September 2021 will also not reflect as “ITC as per GSTR-2A” in Table-8A of GSTR-9 of the recipients.
2.It is requested that the taxpayers may take note of the above and ensure that their records pertaining to Financial Year 2020-21 are reported on or before the due date of their GSTR-3B for the month September 2021, or for the quarter of July to September 2021 in case of quarterly GSTR-3B filers. Availment of ITC by the recipients contrary to the legal provisions in GST may entail action by the tax administrations in accordance with law.
Hence, this is the last chance for the taxpayer to claim any ITC pertaining to FY 2020-21. Thus, if any taxpayer who wants to take ITC pertaining to FY 2020-21 then GSTR 3B needs to be filed within due date and such ITC should be claimed in the same.
Also, now the GST department says that if the supplier has not provided information in his GSTR 1 before the due date of GSTR 3B then the taxpayer cannot take such credit. Thus, again how can a taxpayer be punished for the mistakes done by supplier. So, a taxpayer should ask his supplier to file details of such invoice in GSTR 1 or else you might receive notice from GST department.
Also, CBIC has issued a notice that: GSTR-2B will be available in the afternoon of 14th as its generation commences after end of due date of GSTR-1/IFF filing on 13th.
To read full notification CLICK HERE.
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