{"id":23623,"date":"2022-11-02T00:25:13","date_gmt":"2022-11-01T18:55:13","guid":{"rendered":"https:\/\/carajput.com\/blog\/?p=23623"},"modified":"2024-09-18T23:12:26","modified_gmt":"2024-09-18T17:42:26","slug":"much-awaited-cbec-notification-on-itc-under-gst","status":"publish","type":"post","link":"https:\/\/carajput.com\/blog\/much-awaited-cbec-notification-on-itc-under-gst\/","title":{"rendered":"Much awaited CBEC Notification on ITC under GST"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_58 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Page Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-69d4bfef7ee99\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #000000;color:#000000\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #000000;color:#000000\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-69d4bfef7ee99\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/carajput.com\/blog\/much-awaited-cbec-notification-on-itc-under-gst\/#Much_awaited_CBEC_Notification_on_ITC_under_GST\" title=\"Much awaited CBEC Notification on ITC under GST\">Much awaited CBEC Notification on ITC under GST<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/carajput.com\/blog\/much-awaited-cbec-notification-on-itc-under-gst\/#Rajput_Jain_and_Associates\" title=\"Rajput Jain and Associates \">Rajput Jain and Associates <\/a><\/li><\/ul><\/nav><\/div>\n<h2><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-23625\" src=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2022\/11\/Much-awaited-CBEC-Notification-on-ITC-under-GST.png\" alt=\"CBEC Notification on ITC under GST\" width=\"1059\" height=\"545\" srcset=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2022\/11\/Much-awaited-CBEC-Notification-on-ITC-under-GST.png 313w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2022\/11\/Much-awaited-CBEC-Notification-on-ITC-under-GST-300x154.png 300w\" sizes=\"(max-width: 1059px) 100vw, 1059px\" \/><\/h2>\n<h2><span class=\"ez-toc-section\" id=\"Much_awaited_CBEC_Notification_on_ITC_under_GST\"><\/span><strong><span style=\"color: #000080;\">Much awaited CBEC Notification on ITC under GST<\/span><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Central Board of Indirect Taxes &amp; Customs Through Notification No. 18\/2022 dated 28th Sept. \u00a02022 has notified that all the Goods and Services taxpayers are eligible to avail the\u00a0ITC pertaining to Financial Year 2021-2022 till\u00a030 Nov 2022.<\/p>\n<p>Formerly, the Input Tax Credit was accessible till September 30. You now have 2 additional months to take benefit of the ITC opportunity that you might have missed out on for the financial year 2021\u20132022.<\/p>\n<p>Central Board of Indirect Taxes &amp; Customs <em>This notification is effective from 1st October.\u00a0 <\/em><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Rajput_Jain_and_Associates\"><\/span><span style=\"color: #000080;\"><strong><em>Rajput Jain and Associates <\/em><\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><em>According to what we understand, the Central Government has extended till November 30, 2022, the deadlines for filing GST returns for the FY 21\u201322, issuing credit notes, and notifying them.<\/em><\/p>\n<p><em>It is important to note that November 30, 2022, rather than the GSTR 3B filing deadline in November 2022, will serve as the final date for the aforementioned advantages. The consequence is that taxpayers can use the ITC up until the GSTR 3B filing due for October, which is November 20 or November 30. (with late fees)<\/em><\/p>\n<p>But A different viewpoint that can be held in this regard is that the credit in inquiry can be recorded in the books of accounts by November 30 and that it will be treated as having been used by that date as long as it is reported as such in the GSTR 3B return that must be submitted for the month of November as of December 20, 2022.<\/p>\n<p>Having said the same, the GST dept circular that may clarify its applicability for the financial year 2021\u20132022 should validate the above perspective.<\/p>\n<p>Are you looking for a GST Refund service ? If your Goods and Services Tax application is rejected, Rajput Jain and Associates offers GST Refund on business, exports, and many other things. Contact us straight away.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Much awaited CBEC Notification on ITC under GST Central Board of Indirect Taxes &amp; Customs Through Notification No. 18\/2022 dated 28th Sept. \u00a02022 has notified that all the Goods and Services taxpayers are eligible to avail the\u00a0ITC pertaining to Financial Year 2021-2022 till\u00a030 Nov 2022. Formerly, the Input Tax Credit was accessible till September 30. &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[7049],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/23623"}],"collection":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/comments?post=23623"}],"version-history":[{"count":5,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/23623\/revisions"}],"predecessor-version":[{"id":27466,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/23623\/revisions\/27466"}],"wp:attachment":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/media?parent=23623"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/categories?post=23623"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/tags?post=23623"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}