Benefit of extended time limit to avail ITC till 30th Nov is applicable for FY 2021-2022 as well

Posted on    01 October 2022

As per notification 18/2022 on the 28th of September 2022, the notification mentions that the 1st of October 2022 shall be the date from when Sections 100 to 114 shall be implemented, except Sections 110(c) and 111 of the Finance Act 2022. The major update that industry and tax professionals were waiting for falls under Sections 100, 102, and 103. These amend Sections 16(4), 34 and 37 of the Central Goods and Services Tax (CGST) Act.


Earlier, the taxpayers could reconcile and make amendments to sales invoices and Credit/Debit Notes (CDN) or claim any previously missed Input Tax Credit (ITC) belonging to FY 2021-22 earlier of two dates. Firstly, the due date of filing GSTR-1/3B of September 2022 and, secondly, the date of filing Form GSTR-9. Hence, the window was the GSTR-1/3B for monthly filers and the Invoice Furnishing Facility (IFF)/GSTR-1/GSTR3B for quarterly filers.

With this notification that applies after the 1st of October 2022, the due date stands revised from FY 2021-22 onwards for disclosing such yearly amendments or previously missed reporting to earlier of the 30th of November 2022 or the date of filing Form GSTR-9.

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