As you might be aware that as per the provisions of Section 16(4) of CGST Act, 2017, no taxpayer shall take input tax credit in respect of 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 or 22nd/24th October 2021 for quarterly filers, depending on the State/UT of registration of the taxpayer.
In view of the same, the following advisory has been issued:
- 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.
- 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.
It is to be noted that the taxpayers may take note of the above points 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.