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Will I lose my Input Tax Credit (GST) if I fail...

Will I lose my Input Tax Credit (GST) if I fail to file my returns within the stipulated time frame?

Will I lose my Input Tax Credit (GST) if I fail to file my returns within the stipulated time frame?

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Chiranjibi Jun. 21, 2018

Yes, you will lose your Input Tax Credit. This is because the CGST 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 invoice or invoice relating to such debit note pertains or furnishing of the relevant annual return, whichever is earlier.

Will I lose my Input Tax Credit (GST) if I fail to file my returns within the stipulated time frame?

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