We would like to inform you all of you that, the taxpayers can avail Input Tax credit (ITC) of FY 2017-18 in the current year also i.e FY 2018-19 and that is up to 31st March-2019. Earlier the date for availing ITC of FY 2017-18 is 20th October-2018 ( GSTR-3B of September-2018). Accordingly, rectification in GSTR-1 for transactions pertaining to FY 2017-18 is possible now.
The Govt. has taken this welcome step considering grievances faced by taxpayers and considering FY 2017-18 is first year of implementation of GST. The CBIC has vide its Order No.02/2018-Central Tax (Removal of difficulties order) given this effect.
In case of any doubts/ required clarification, kindly get in touch with us on firstname.lastname@example.org or drop a comment below.