GST UPDATE

????Desk of CA. Praveen Sharma Series-618????

Reply to Notice on Alleged Excess ITC Claimed in FY 2023-24

?This is in response to your notice dated ____ regarding alleged excess ITC claimed in FY 2023-24 for invoices of FY 2022-23.

?ITC Details: We claimed ITC of Rs. ___ in FY 2023-24 for invoices of FY 2022-23, which were received and accounted for within the permissible time limits under GST law.

?Legal Compliance : The claim aligns with Section 16(4) of the CGST Act, 2017, allowing ITC for prior financial year invoices until November of the subsequent year or the annual return filing date, whichever is earlier.

?Reconciliation : A reconciliation of ITC claimed against invoices of FY 2022-23 is attached (Annexure-A). The invoices are reflected in our GSTR-2B and have been reported by suppliers in their GSTR-1 returns.

?Good Faith Claim : The ITC was claimed in good faith without intent to evade tax. It was duly accounted for in compliance with the law.

?Request : We kindly request you to drop the demand for excess ITC and consider the attached supporting documents:

?Copy of relevant invoices (Annexure-B)

?GSTR-2B summary (Annexure-C)

?Reconciliation statement (Annexure-D)

Link:https://www.linkedin.com/pulse/desk-ca-praveen-sharma-series-618-reply-notice-excess-uvzfc

CA Praveen Sharma

Mob. No. +91-98715 30610