Apex Court order on GSTR 3B

The Supreme Court has stayed an order via the Gujarat High Court which held that GSTR 3B (a go back form) is not a go back. This has raised apprehensions that the live might lead to denial of enter tax credit score (ITC) for a number of assessees. The Gujarat High Court, in its order of June 24,- termed the press launch dated October 18, 2018, as unlawful to the volume that its Para three purports to clarify that the final date for availing enter tax credit regarding the invoices issued during the duration from July 2017 to March 2018 is likewise the ultimate date for the submitting of return in Form GSTR-3B.

According to experts, because of this GSTR 3B isn't a return form. Now, this equal order has been stayed and the matter could be heard later this month. “This live order will impact heaps of taxpayers who as a count number of prudence took the advantage of the Gujarat High Court ruling despite the fact that they had been past the jurisdiction of the Court,”

The writ petition also cited that it disentitles a taxpayer to say the input tax credit for the aforesaid length which could not be taken resulting from any errors or omission. It is submitted that the aforesaid clarification isn't in consonance with Section 16(4) of the CGST Act/GGST Act which provides for the last date for taking the enter tax credit score, the petition said.

It changed into submitted that the ultimate date of taking the enter tax credit have to be the due date of filing of go back in Form GSTR-3 or annual return whichever is earlier.