Apex Court order on GSTR 3B raises fears over input tax credit

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Apex Court order on GSTR 3B raises fears over input tax credit 
The Supreme Court has stayed an order by the Gujarat High Court which held that GSTR 3B is not a return.
This has raised apprehensions that the stay might lead to denial of the input tax credit for a number of assessees.
The Gujarat High Court, in its order of June 24, termed the press release dated October 18, 2018, as illegal to the extent that it's Para 3 purports to clarify that the last date for availing input tax credit relating to the invoices issued during the period from July 2017 to March 2018 is also the last date for the filing of return in Form GSTR-3B.
According to experts, this means that GSTR 3B is not a return form. Now, this same order has stayed and the matter will be heard later this month.

Monthly filing : 

GSTR 3B needs to be filed on a monthly basis by every regular assessee even if the tax liability in ‘Nil.’ It does not require invoice level information but just a summary of sales and purchase made by the registered taxpayer, liable input tax credit, liable tax and tax paid. This return is to be filed by the 20th of the following month.
As per the above clarification, a taxpayer will not be able to claim the input tax credit for the period from July 2017 to March 2018 after filing of the return in Form GSTR-3B for September 2018.
It was submitted that the last date of taking the input tax credit should be the due date of filing of return in Form GSTR-3 or annual return whichever is earlier.
GSTR-3B returning in lieu of Form GSTR-3. Keeping all these in mind, the Bench ruled in favor of the petitioner.

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