Government allows businesses to claim GST input till March 2019 for FY 2018
- By Admin
- 4 Jan
The Ministry of Finance has allowed assesses to claim Input Credit for the Financial year 2017-18 till March 2019, provided that it matches with the return filed by their suppliers i.e. GSTR-2A. Earlier the deadline for claiming Input Tax Credit (ITC) was October 25, 2018.
GSTR-2A is auto-generated return by the GST system based on sales returns filed by suppliers in GSTR-1A.
The Central Board of Indirect Taxes and Customs (CBIC) issued an order stating that Input Tax Credit claims for the Financial Year 2017-18 (July 2017 to March 2018) will be allowed till March 31, 2019.
The GST was introduced from July 01, 2017.
Further, the CBIC has also allowed assesses to correct any error or omission in filing of final sales return i.e. GSTR-1 for the period July 2017-March 2018. It will be a final chance for the assesses to correct the errors, if any, in the returns to be filed for January-March 2019.
Tushar Walecha, Co-founder, Filing Samadhan said “With this relaxation given by the Government, million of taxpayers will be able to claim their inputs.”