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2021 (9) TMI 381 - AAR - GSTInput tax credit - Belated filing of return by the supplier i.e. after the due date of filing of annual return for the relevant financial year - credit already claimed on the invoices raised by the supplier pertaining to the period Jan-2020, Feb-2020 and March-2020 for which the supplier has actually paid the tax charged in respect of such supply to the Government - entitlement of reversal via cash or through utilization of input tax credit admissible in respect of such supply - requirement to reverse ITC already availed, where M/s Gayatri Project Ltd. has actually paid the tax. HELD THAT:- The applicant has availed credit of input tax upon receipt of services from M/s Gayatri Projects Limited and has furnished the return under section 39 for the relevant tax periods. The applicant is also in possession of tax invoices issued by the supplier of services. So, the applicant has complied with the conditions for availing of input tax credit specified in clause (a), (b) and (d) of sub-section (2) of section 16 of the GST Act - it is evident that while the applicant has availed input tax credit in the months of January’ 20, February’20 and March’20 respectively, the supplier has declared such outward supplies made by him in his respective FORM GSTR-1 in the month of November’20 and has also paid the taxes on such supply upon furnishing of return in FORM GSTR-3B in the month of November’ 20. Whether such belated compliances by the supplier towards payment of tax to the Government would disentitle the applicant to avail of input tax credit as per the condition laid down in sub-section (c) of section 16 of the GST Act read with the rules made there under? - HELD THAT:- The entitlement of input tax credit is governed by sections and rules made under CHAPTER V of the GST Act and Rule respectively. Further, section 41 of the GST Act which deals with ‘Claim of input tax credit and provisional acceptance thereof’ speaks that every registered person shall be entitled to take the credit of eligible input tax on self-assessment basis subject to such conditions and restrictions as may be prescribed. We admit that FORM GSTR-2B has been made effective from 01.01.2021 but at the same time, the applicant cannot deny that the provisions of sub-rule (4) of rule 36 was already in force during the period when the applicant has availed of input tax credit issues of which we are dealing with in this case. It is thus concluded that the applicant has availed of input tax credit in excess of his entitlement prescribed under sub-rule (4) of rule 36 - The applicant is not entitled for input tax credit claimed by him on the invoices raised by M/s Gayatri Projects Ltd. pertaining to the period Jan-2020, Feb-2020 and March-2020 for which the supplier has furnished FORM GSTR-1 and FORM GSTR-3B in the month of November’20 and the applicant is, therefore, required to reverse the said input tax credit.
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