CBIC has also allowed Assessee to correct any error or omission in filing of final sales return or GSTR-1 for the period July 2017-March 2018. Assessee can correct the errors in the returns to be filed for January-March 2019.
Tax experts said that ITC claims were allowed to Assessee earlier provided that Assessee had generated invoice, paid taxes and filed returns. However, in the recent order the CBIC has mandated that ITC claims would have to be matched with GSTR-2A. The Central Board of Indirect Taxes and Customs (CBIC) through a gazette notification issued an order stating that ITC claims for the maiden year of Goods and Services Tax (GST) roll out (July 2017 to March 2018) will be allowed till 31st March, 2019. The Finance Ministry has allowed businesses to claim input tax credit benefit for the first financial year of Goods and Services Tax roll out, till March 2019, provided it matches with the return filed by their suppliers. The deadline for claiming input tax credit (ITC) ended on October 25, 2018.
Legal Reference “Order No. 02/2018-Central Tax“dated 31 Dec., 2018″ Provided further that the rectification of error or omission in respect of the details furnished under sub-section (1) shall be allowed after furnishing of the return under section 39 for the month of September, 2018 till the due date for furnishing the details under subsection (1) for the month of March, 2019 or for the quarter January, 2019 to March, 2019.”
“Provided that the registered person shall be entitled to take input tax credit after the due date of furnishing of the return under section 39 for the month of September, 2018 till the due date of furnishing of the return under the said section for the month of March, 2019 in respect of any invoice or invoice relating to such debit note for supply of goods or services or both made during the financial year 2017-18, the details of which have been uploaded by the supplier under sub-section (1) of section 37 till the due date for furnishing the details under sub-section (1) of said section for the month of March, 2019.”
* One Bird’s-eye view on other due Dates *
Moreover, Extension of Due date for GSTR-3B only for newly migrated taxpayers for months July 2017 to Nov 2018 till 31st December 2018. The due dates remain unchanged for rest of the taxpayers and Different Due dates for different Tax payers refer Notification dated 3st Dec., 2018.
Extend the due date for furnishing FORM ITC-04 for the period from July, 2017 to December, 2018 till 31.03.2019.
Fully waive the amount of late fees leviable on account of delayed furnishing of FORM GSTR-4 for the period July, 2017 to September, 2018.
The amount of late fee payable under section 47 of the said Act shall stand waived for the registered persons who failed to furnish the details of outward supplies in FORM GSTR-1 for the months/quarters from July, 2017 to September, 2018 by the due date but furnishes the said details in FORM GSTR-1 between the period from 22nd December, 2018 to 31st March, 2019.
Fully waive the amount of late fees leviable on account of delayed furnishing of FORM GSTR-3B for the period July, 2017 to September, 2018 in specified cases.
Extend the due date for furnishing the statement in FORM GSTR-8 by e-commerce companies for the months of October to December, 2018 till 31.01.2019.
Extension of due date for filing of Annual return (in FORMs GSTR-9, GSTR-9A and GSTR-9C) for FY 2017-18 till 31st March, 2019