What is the time limit for Input Tax Credit (ITC)?

What is the time limit for Input Tax Credit (ITC)?

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19 Answer(s)

2 years

Answered on July 7, 2017.
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As per Section 16 (15) of the MGL, ITC cannot be taken beyond the month of September of the following FY to which invoice pertains or date of filing of annual return, whichever is earlier. The underlying reasoning for this restriction is that no change in return is permitted after September of next FY. If annual return is filed before the month of September then no change can be made after filing of annual return.

Answered on July 7, 2017.
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ITC cannot be taken beyond the month of September of the following FY to which invoice pertains or date of filing of annual return, whichever is earlier. The underlying reasoning for this restriction is that no change in return is permitted after September of next FY. If annual return is filed before the month of September then no change can be made after filing of annual return.

Answered on July 7, 2017.
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ITC can be take till 30 th September of following Year.

Answered on July 7, 2017.
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Sec 16 subsection aap input credit tax credit annual return bharne time ya next financial year k September ki return bharte time(jo phele bharoge )uss din tak claim kar shakte h. example if you file annual returan in March 2018 then itc shall be calim in march other wise if you dont file annual return in march then September tak kavi v return bharte time claim kar shakte hai.

Answered on July 7, 2017.
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(1) Special Circumstances : ●A Taxable Person shall not be entitled to take the INPUT TAX CREDIT in respect of supply of Goods / Services to him after the expiry of 1 (ONE) YEAR FROM THE DATE OF ISSUE OF TAX INVOICE relating to such supply. . (2) Job Work : ● Principal shall be entitled to take Credit of INPUT TAX on INPUT as well as on CAPITAL GOODS even if such INPUT / CAPITAL GOODS directly sent to JOB-WORKER for job work without being first bought by him to his place of business.. Condition : Principal shall be entitled to take input tax credit of Input / Capital Goods , if it is received back by principal within time limit (i.e. ONE YEAR in case of “INPUT” and “THREE YEAR” in case of “CAPITAL GOODS” from the date of being send out)

Answered on July 7, 2017.
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A registered person is nit entitled to take input credit on invoice debit notes after due date of furnishing of the return under section 39 for the month of September of the subsequent financial year or furnishing of the relevant annual return, whichever is earlier.

Answered on July 7, 2017.
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The Input Tax Credit (ITC) can be availed with in one year from the date of invoice/debit note. It should be claimed before filing the GST return u/s 27 for the September month following the Financial Year to which that invoice pertains, or before filling the relevant annual return u/s 30, whichever is earlier.

Answered on July 7, 2017.
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September month of following year or filling annual return whichever is ealier

Answered on July 7, 2017.
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As per sec.18(2) of cgst Act, a taxable person shall not be allowed to take ITC in r/o any supply of goods and/ or services to him after expiry of one year from the date of issue of tax invoice relating to such supply. Further a taxable person shall not be entitled to take such ITC after the filing of return u/s 39 of cgst act for the month of september following the end of financial year to which such invoice or invoice relating to debit note pertains or filing of the relrvant annual return, whichever earlier-sec.16(4) of cgst act.

Answered on July 7, 2017.
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180 days

Answered on July 8, 2017.
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Sec 16(4) Time limit for availment of credit: ITC shall not be allowed after furnishing of return for September month following the end of financial year to which such invoice or furnishing of relevant annual return (December 31 is the due date for filing annual return), whichever is earlier. In the absence of any provisions as to eligibility to avail ITC when there is delay in applying for registration under GST, it appears that such credit on inputs would be lapsed and would be available only after the date of registration granted under the GST Law.

Answered on July 8, 2017.
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Nice answer krishna jha

Answered on July 8, 2017.
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With in one year from the date of tax bill or before submission of annual return which ever is latter.

Answered on July 9, 2017.
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Sec 16 (4) GST 1st April itc can be claime before 20th of succeeding year

Answered on July 9, 2017.
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As per section16(4) of cgst act, ITC shall be taken on or before the due date of filing return for the month of September of next FY or the actual date of furnishing annual return whichever is earlier.

Answered on July 9, 2017.
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Credit for an invoice pertaining to a FY cannot be claimed after: Filing of the return for the month of September following the end of FY or Filing of the annual return of the FY; whichever is earlier (effectively 20th Oct).

Answered on July 9, 2017.
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Before 20

Answered on July 10, 2017.
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For FY 17-18, 20th october 2018 or date of filing of Annual return whichever is earlier.

Answered on July 11, 2017.
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Your Answer

Gen GST