Old ITC may appear in GSTR-9 of next year! (understand how)

Old ITC may appear in GSTR-9 of next year! (understand how) The GST Council had earlier announced that ITC that could not be claimed until the filing of GSTR-3B of September 2018, will be allowed to be claimed by 31st March 2019. But a lot of our readers wrote back to us asking how this is really going to work. There may be 2 scenarios if you have unclaimed ITC of FY 2017-18 Your supplier reported in GSTR-1 of FY 2017-18 but you did not report it as purchase in your GSTR-3B and did not claim credit Your supplier did not report in any GSTR-1 of FY 2017-18 and hence you could not claim credit (but paid the invoice) In the first scenario, the situation is simple to resolve. You met all the conditions - the invoice was uploaded by the supplier, payment was made by you, but credit was not claimed. Such an ITC claim can be made by filing GSTR-3B of March 2019 (likely due on 20th April 2019). This ITC claim will appear in GSTR-9 of FY 2017-18. In the second scenario, the supplier needs to upload the invoice and report it in GSTR-1. Once it is part of GSTR-1, which will belong to the next financial year 2018-19, the claim will not belong to FY 2017-18 anymore. It will be part of GSTR-9 of FY 2018-19. Basically, old credit will be available but in the next financial year. As is the case with any new legislation, GST continues to be a mish-mash of changes and regulations! However, with ClearTax, you always stay on top of your GST compliance on both ends - pass ITC benefit smoothly to your customer and also claim credit when you’ve paid the invoice.