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Request for permitting availment of input tax credit under GST pertaining to Financial Year 2019-20 and correction in GSTR- 1 till March, 2021.

Institute of Charted Accountant of India

ICAI/IDTC/2020-21/Rep/16

10th September, 2020

Shri S.K Rahman
Joint Secretary,
Goods and Services Tax Council,
56′ Floor, Tower II,
Jeevan Bharti Building,
Janpath Road, Connaught Place,
New Delhi-110 001

Esteemed Sir,

Reg: Request for permitting availment of input tax credit under GST pertaining to Financial Year 2019-20 and correction in GSTR- 1 till March, 2021

Greetings. The Institute of Chartered Accountants of India (ICAI) has been proactively supporting the Government by providing suggestions at each stage of development, creating awareness and disseminating knowledge of GST among various stakeholders.

We are writing this letter considering the practical difficulties which would be faced by the taxpayer in claiming input tax credit under the GST. In terms of provision of Section 16(4) of the CGST Act, 2017 the time limit for claiming the input tax credit by a registered person is restricted. The said provision is reproduced below:

“A registered person shall not be entitled to lake input tax credit in respect of any invoice or debit note for supply of goods or services or both after the 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 debil note pertains or furnishing of the relevant annual return, whichever is earlier:”

Considering the epidemic COVID — 19 (Coronavirus) has affected the business adversely and majority of the offices are working only partially. Life has almost comes to standstill and people are working for survival. Therefore, we request your goodself to provide appropriate relaxation to the registered person and extend due dates for taking the input tax credit for invoices pertaining to Financial Year 2019-20 till March, 2021. Further, it is also requested to allow the taxpayers to make correction in the GSTR- 1 and issuance of credit note for the supplies affected during the FY 2019-20 till March, 2021.

Hope you will consider the request in view of interest of trade and industry. We shall be glad to provide any further input as may be required and your office may reach us at gst@icai.in or 0120-3045954.

Warm regards,

Yours fathfully

CA. Rajendra Kumar P
Chairman
GST & Indirect Taxes Committee

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Also Read:-

S. No. Dated Made by Link to View the Representation
1. 27/09/2020 Tax Bar Association, Guwahati Extend due date for filing GSTR 9, 9A & 9C for year 2018-19
2. 19/09/2020 Independent Tax Research Analysis Association Relax GST Annual Return & Audit dates for FY 2018-19
3. 19/09/2020 Confederation of GST Professionals and Industries Extend Implementation of E-Invoicing to April 1, 2021
4. 17/09/2020 Confederation of GST Professionals and Industries Extend due date for GSTR 9 & 9C of Financial Year 2018-19
5. 16/09/2020 Baroda Tax Bar Association Request to extend due date of GSTR 9 & 9C for F.Y. 2018-19
6. 10/09/2020 The Institute of Chartered Accountants of India Representation on difficulties in filing GSTR 9 for 2018-19
7. 10/09/2020 Institute of Chartered Accountants of India Permit availment of ITC under GST pertaining to FY 2019-20: ICAI
8. 10/09/2020 Institute of Chartered Accountants of India Request to devise mechanism to receive part payment of GST
9. 10/09/2020 The Institute of Chartered Accountants of India Extend due dates of filing GST Annual return & Audit Report
10. 27/09/2020 Karnataka State Chartered Accountants Association Extend due date for filing GSTR9 & GSTR9C for FY 2018-19
11. 24/09/2020 Bombay Chartered Accountants’ Society Extend dates for various provisions under GST: BCAS
12. 14/08/2020 C.V.O. Chartered & Cost Accountants’ Association (CVOCA) Representation on hardship under GST Laws on account of pandemic
13. 07/09/2020 C.V.O. Chartered & Cost Accountants’ Association (CVOCA) Representation on 7 GST issues & hardships faced by taxpayers
14. 10/09/2020 National Association of Tax Professional (Haryana) Extend Filing Date of Annual GST returns GSTR-9 & GSTR-9C
15. 24/08/2020 The Institute of Cost Accountants of India Request to extend due date of filing of GSTR 9 & GSTR 9C
16. 29/09/2020 Ahilya Chamber of Commerce and Industry Extend ITC availment, GSTR-9 & 9C Due dates till 31.03.2021

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4 Comments

  1. shruti says:

    Please give us permision to take ITC credit for 19-20
    can take till March 21 due to covid other may misunderstandings for filing .we have not get enough time to check GSTR2A for LY may vendor revised there return and we cant take credit which is aviled .please understand our Situation .

  2. Gupta surinder says:

    Dear sir, we the honest business people are facing a problem of bogus billing and solution to this problem is very simple. I am giving suggestion hereunder which will not only solve the bogus billing problems but also make doing business very comfortable:
    1) The e-way bill should only be allowed to generate if the billing entity has sufficient balance in its electronic ledger.
    2) Monthly, quarterly and yearly GST filling of returns should be discontinued. Instead an annual return consists of purchasing invoices and selling invoices should be asked to furnish as the tax amount has already been paid.
    While doing these simple things compliance burden on assessee as well as aministrative burden on the department will be reduced.
    3) There should not be any unnecessarily visit inspection by the department as all the documents will be available on the department web site.
    Request you to kindly take this with authorities concerne
    Thanks.

    SKGupta

  3. sushma kothari says:

    E-Invoicing and TCS provision is applicable w.e.f 1st October but before that one has to review its system for required modification and lots of time is required in this exercise.

  4. sushma kothari says:

    If time line will not extend, industry will suffer financial losses in spite of tax being paid by them to its vendor and who has misreported the transaction . September month is again very crucial as lots of deadlines are in this month like FY 18-19 audit, E Invoicing , TCS provision and Quarter end for listed company.

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