Key takeaways
- Some dates are about compliance. A few also close the door on money you could have recovered.
- The 30 November ITC cut-off and the two-year refund limit are the two that lose the most money.
- Quarterly TDS returns decide whether your customers' deductions reach your 26AS in time.
Finance teams live by a calendar of due dates. Most are about filing on time. A few matter more, because missing them does not just cost a late fee: it ends the right to recover money that is yours.
Recurring dates that affect recovery
| When | What | Why it matters for recovery |
|---|---|---|
| 7th of each month | TDS deposit for the previous month (30 April for March) | Late deposit means interest, and credit can show late in 26AS |
| 11th of each month | GSTR-1 by suppliers | Supplier filings feed your GSTR-2B |
| 20th of each month | GSTR-3B | Where you actually claim input tax credit |
| 31 July, 31 October, 31 January, 31 May | Quarterly TDS returns | Deductor returns decide what reaches your 26AS |
| 30 November | Last date to claim ITC for the previous financial year | After this, missed credit is lost for good |
| 31 December | GST annual return for the previous financial year | Last clean chance to review the year; earlier filing also closes the ITC window |
| Two years from the relevant date | GST refund time limit | Refunds filed later are rejected |
Source: CGST Act sections 16(4), 39, 44 and 54; Income-tax rules on TDS. Dates can be extended by notification.
The two dates that lose the most money
30 November. Section 16(4) stops input tax credit for a financial year from being taken after 30 November of the next year, or after the annual return if that is filed first. Airline invoices that never reached GSTR-2B are the most common casualty.
The refund time limit. Section 54 generally allows two years from the relevant date. What counts as the relevant date depends on the type of refund, so each claim period has its own clock.
A quarterly routine
- Month 1
Reconcile last quarter's GSTR-2B to purchases, including airline invoices.
- Month 2
Check 26AS against receivables and chase deductors with gaps.
- Month 3
Review refund periods nearing two years and file what is due.
Our deadline watch always shows the next dates, counted from today.
Managing Partner of TraCarta. He started the firm in 2018 to recover airline GST credit for corporate clients and leads its three recovery practices.
View profileGeneral information only, not tax advice. Check the current law and your facts before acting.
