Apex Court order on GSTR 3B raises fears over input tax credit

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The Supreme Court has stayed an order by the Gujarat High Court which held that GSTR 3B (a return form) is not a return.This has raised apprehensions that the stay might lead to denial of input tax credit (ITC) for a number of assessees.

The Gujarat High Court, in its order of June 24, (reissued with a small correction on July 10), termed the press release dated October 18, 2018, as illegal to the extent that it’s Para 3 purports to clarify that the last date for availing input tax credit relating to the invoices issued during the period from July 2017 to March 2018 is also the last date for the filing of return in Form GSTR-3B. According to experts, this means that GSTR 3B is not a return form. Now, this same order has been stayed and the matter will be heard later this month.

Read More at: https://www.thehindubusinessline.com/economy/apex-court-order-on-gstr-3b-raises-fears-over-input-tax-credit/article30313295.ece