Central Tax Removal of Difficulty Orders
Title | Seeks to extend the due date for availing ITC on the invoices or debit notes relating to such invoices issued during the FY 2017-18 |
Number | 02/2018 |
Date | 31-12-2018 |
Download | |
WHEREAS, sub-section (4) of section 16 of the Central Goods and Services Tax Act, 2017 (12 of 2017) (hereafter in this Order referred to as the said Act) provides that a registered person shall not be entitled to take input tax credit in respect of any invoice or debit note for supply of goods or services or both after the due date of furnishing of the return under section 39 for the month of September following the end of financial year to which such invoices or invoice relating to such debit note pertains or furnishing of the relevant annual return, whichever is earlier;
AND WHEREAS, sub-section (3) of section 37 of the said Act provides that
Any registered person, who has furnished the details under sub-section (1) for any tax period and which have remained unmatched under section 42 or section 43, shall, upon discovery of any error or omission therein, rectify such error or omission in such manner as may be prescribed, and shall pay tax and interest, if any, in case there is short payment of tax on account of such error or omission, in return to be furnished for such tax period:
Provided that no rectification of error or omission in respect of the details furnished under sub-section (1) shall be allowed after furnishing of the return under section 39 for the month of September following the end of the financial year to which such details pertain, or furnishing of the relevant annual return, whichever is earlier;
(i) the registered persons eligible to avail input tax credit could not claim the same in terms of provisions of section 16 because of missing invoices or debit notes referred to sub-section (4) within the stipulated time;
(ii) the registered persons could not rectify the error or omission in terms of provisions of sub-section (3) of section 37 within the stipulated time, as a result whereof certain difficulties have arisen in giving effects to the provisions of subsection (4) of section 16 and sub-section (3) of section 37;
Short title––This Order may be called the Central Goods and Services Tax (Second Removal of Difficulties) Order, 2018.-
Section 16 – Eligibility and conditions for taking input tax credit