Claim of ITC after filing of annual accounts

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..... Dear Sir, One of our clients filed their Financials for FY 2017-18 in August 2018. After filing of financials they realised that they had not claimed ITC on 3 invoices either in books (they had booked entire invoice value as Expense) neither in GSTR-3B . Therefore, they claimed ITC on these invoices in Sep 2018 in GSTR-3B and also booked ITC in books (by reversing expense by way of Prior .....

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..... period item in Sep 2018). Now: 1. If we disclose the said ITC in GSTR-9 of FY 2017-18 as ITC of FY 2017-18 claimed in Apr-Sep 2018, then it creates un-reconciled difference in GSTR-9C of FY 2017-18 as it has not been claimed in books and therefore creates tax demand in GSTR-9C . 2. However, instead if ITC is claimed in GSTR-9 of FY 2018-19, then it does not create any differen .....

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..... ce as ITC has been claimed in both Books and 3B in FY 2018-19. In this case, is such claim of ITC of FY 2017-18 in FY 2018-19 incorrect or bad in law? Please express your kind views on the same. - Reply By Atul Rathod - The Reply = Hi, Disclose only in table 8 of GSTR-9. No where you need to disclose in GSTR-9C . 1. Say ₹ 100 has been claimed in BOA for 2017-18 whereas in retu .....

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..... rns for the period 2017-18 you have claimed 100 10 in Sep'18 return (in total for 2017-18-110) 2.₹ 100/- need to be disclosed in table 6 and ₹ 10 in table 8 of GSTR-9 . 3. ₹ 100/- in table 12 of GSTR 9C 10 would not appea anywhere. 4. Further table 13 of GSTR-9C picks the figure of annual return from table 7J which is total of table 6 7 of GSTR-9 b .....

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..... ut does not take effect of table 8. 5. Thereby it would not show any unreconciled item. Hope its clear. - Claim of ITC after filing of annual accounts - Query Started By: - ROHIT GOEL Dated:- 9-11-2019 Goods and Services Tax - GST - Got 1 Reply - GST - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - .....

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..... taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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