Notification No. 52/2017 – Central Tax Explained

Want to File ITR, GST Returns & Pvt. Ltd. Registration

Notification No. 52/2017 – Central Tax: Seeks to extend the due date for submission of details in FORM GST-ITC-01

GST: [To be published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i)]

G. S. R (E). In pursuance of section 168 of the Central Goods and Services Tax Act, 2017 (12 of 2017) (hereafter referred to as the said Act) and clause (b) of sub-rule (1) of rule 40 of the Central Goods and Services Tax Rules, 2017, the Central Government hereby makes the following amendments in the notification number 44/2017-Central Tax, dated the 13th October, 2017, published in the Gazette of India, Extraordinary, Part II, Section 3, sub-section (i), vide number G. S. R. 1258 (E), dated the 13th October, 2017, namely:-

In the said notification, for the words, figures and letters “the 31^st day of October 2017”, the words, figures and letters “the 30^th day of November 2017” shall be substituted.

(Dr. Sree Parvathy S.L.)
Under Secretary to
Government of India

Note: - The principal rules were published in the Gazette of India, Extraordinary, Part II, Section 3, sub- section (i) vide notification No. 44/2017-Central Tax, dated the 13^th October 2017, published vide number G. S. R. 1258 (E), dated the 13^th October, 2017.

📚 Frequently Asked Questions (FAQs): Notification No. 52/2017 – Central Tax

Q1: What is Notification No. 52/2017 – Central Tax?

Answer:
Notification No. 52/2017 – Central Tax extended the due date for filing FORM GST ITC-01 from 31 October 2017 to 30 November 2017.

Q2: What is FORM GST ITC-01?

Answer:
ITC-01 is a form used by taxpayers to claim Input Tax Credit on stock and capital goods when they become eligible under GST.

Q3: Which rule governs ITC-01 filing?

Answer:
ITC-01 filing is governed by Rule 40 of the CGST Rules, 2017.

Q4: Which notification was amended by Notification No. 52/2017?

Answer:
It amended Notification No. 44/2017 – Central Tax dated 13 October 2017.

Q5: What is the revised due date under Notification No. 52/2017?

Answer:
The due date for filing FORM GST ITC-01 was extended to 30 November 2017.

Q6: Who must file FORM ITC-01?

Answer:
Taxpayers who become eligible to claim Input Tax Credit on stock or capital goods must file ITC-01.

Q7: When should ITC-01 be filed?

Answer:
It must be filed when:
GST registration becomes mandatory
A business exits the composition scheme
Exempt supplies become taxable

Q8: What details must be included in ITC-01?

Answer:
Details of stock held
Purchase invoices
ITC claim amount

Q9: Is GST registration required before filing ITC-01?

Answer:
Yes. Only registered GST taxpayers can file ITC-01.
Register here:
https://finodha.in/online-gst-registration/

Q10: What happens if ITC-01 is not filed on time?

Answer:
The taxpayer may lose eligibility to claim input tax credit on stock.

Q11: Can ITC be claimed without invoices?

Answer:
No. Proper tax invoices are required to claim ITC.

Q12: How can businesses ensure proper GST compliance?

Answer:
Businesses should maintain records and consult GST professionals.
Finodha provides expert GST support:
https://finodha.in/gst-compliance/

Q13: Is ITC available on capital goods?

Answer:
Yes. ITC may be claimed on eligible capital goods as per GST provisions.

Q14: Can ITC be claimed on goods used for exempt supplies?

Answer:
No. ITC cannot be claimed on goods used exclusively for exempt supplies.

Q15: Why is Notification No. 52/2017 important?

Answer:
It allowed taxpayers extra time to claim input tax credit during the early GST transition phase, preventing loss of eligible credits.

Conclusion

Notification No. 52/2017 – Central Tax played an important role in supporting businesses during the early GST transition.

By extending the due date for filing FORM GST ITC-01, the government ensured that taxpayers had sufficient time to claim eligible input tax credit on stock.

Businesses should stay updated with GST notifications and ensure timely filing to maximize tax benefits.