Answer

1. F

   Facts

   ITC for a year must be claimed by 30 November of the next year or the annual return date if earlier. October is the time to pull GSTR-2B for all twelve months, compare with ITC claimed and claim any eligible missed credit.

2. P

   Provisions and law

   • Sec 16(4), CGST Act 2017ITC for a year cannot be taken after 30 November of the next year or the annual return, whichever is earlier
   • Rule 37A, CGST Rules 2017ITC to be reversed by 30 November if the supplier has not filed GSTR-3B for that period
   • Sec 34, CGST Act 2017Credit and debit notes; credit notes must be declared by 30 November of the next year
3. A

   Analysis

   If GSTR-2B for the year shows ₹24,00,000 and you claimed ₹23,40,000, find the ₹60,000. Claim eligible items in the October return. Also finish Rule 37A reversals and credit notes, which share the same deadline.

4. C

   Conclusion

   1. 1Download annual ITC data from GSTR-2B
   2. 2Compare with ITC claimed in GSTR-3B
   3. 3Claim eligible missed credits by 30 November
   4. 4Finish Rule 37A reversals and credit notes

General guidance from TaxSavvy’s library of money processes. Laws change; your Savvy confirms the answer on your exact case before anything is filed.