{"id":784,"date":"2021-10-18T12:14:31","date_gmt":"2021-10-18T12:14:31","guid":{"rendered":"https:\/\/www.gstrobo.com\/kc\/news\/?p=784"},"modified":"2021-10-18T12:16:10","modified_gmt":"2021-10-18T12:16:10","slug":"gst-advisory-on-itc-availability-for-fy-2020-21","status":"publish","type":"post","link":"https:\/\/www.gstrobo.com\/kc\/news\/gst-advisory-on-itc-availability-for-fy-2020-21\/","title":{"rendered":"GST Advisory on ITC Availability for FY 2020-21"},"content":{"rendered":"\n<p>No taxpayer shall receive input tax credit in regard records (invoices and debit notes) for the 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, according to Section 16(4) of the CGST Act, 2017. The <strong>GSTR-3B<\/strong> is due on the 20th of October 2021 for monthly filers and the 22nd or 24th of October 2021 for non-monthly filers, depending on the taxpayer&#8217;s state\/UT of registration. In light of this, take note of the following:<\/p>\n\n\n\n<ol class=\"wp-block-list\"><li>Records (invoices or debit notes) for the Financial Year 2020-21 that are reported in <strong>GSTR-1<\/strong> after the <strong>GSTR-3B<\/strong> due date of September 2021 will not appear as &#8220;ITC Available&#8221; in the recipients&#8217; GSTR-2B. Such records will appear in the GSTR-2B &#8220;ITC Not Available&#8221; section, and such ITC will not be auto-populated in <strong>GSTR-3B<\/strong>.<\/li><li>Records (invoices or debit notes) for the Financial Year 2020-21 reported in <strong>GSTR-1<\/strong> after the due date of <strong>GSTR-3B<\/strong> in September 2021 would not appear in Table-8A of <strong>GSTR-9<\/strong> of the recipients as &#8220;ITC as per <strong>GSTR-2A<\/strong>.&#8221;<\/li><\/ol>\n\n\n\n<p>It is requested that taxpayers take note of the above and ensure that their records for the Financial Year 2020-21 are reported on or before the due date of their <strong>GSTR-3B<\/strong> for the month of September 2021, or for the quarter of July to September 2021 in the case of quarterly <strong>GSTR-3B<\/strong> filers, on or before the due date of their <strong>GSTR-3B<\/strong> for the month of September 2021. The receipt of ITC in violation of GST legal provisions may result in legal action by tax administrations.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>No taxpayer shall receive input tax credit in regard records (invoices and debit notes) for the 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, according to Section 16(4) of the CGST Act, 2017. The GSTR-3B is due on &hellip; <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[288,289],"class_list":["post-784","post","type-post","status-publish","format-standard","hentry","category-news-updates","tag-gst-advisory","tag-itc-availability"],"_links":{"self":[{"href":"https:\/\/www.gstrobo.com\/kc\/news\/wp-json\/wp\/v2\/posts\/784","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.gstrobo.com\/kc\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gstrobo.com\/kc\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gstrobo.com\/kc\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gstrobo.com\/kc\/news\/wp-json\/wp\/v2\/comments?post=784"}],"version-history":[{"count":2,"href":"https:\/\/www.gstrobo.com\/kc\/news\/wp-json\/wp\/v2\/posts\/784\/revisions"}],"predecessor-version":[{"id":786,"href":"https:\/\/www.gstrobo.com\/kc\/news\/wp-json\/wp\/v2\/posts\/784\/revisions\/786"}],"wp:attachment":[{"href":"https:\/\/www.gstrobo.com\/kc\/news\/wp-json\/wp\/v2\/media?parent=784"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gstrobo.com\/kc\/news\/wp-json\/wp\/v2\/categories?post=784"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gstrobo.com\/kc\/news\/wp-json\/wp\/v2\/tags?post=784"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}