top button
Flag Notify
    Connect to us
      Facebook Login
      Site Registration

Facebook Login
Site Registration

What is the time limit to avail the Input Tax credit?

+1 vote
What is the time limit to avail the Input Tax credit?
posted Dec 28, 2017 by John Smith

Share this question
Facebook Share Button Twitter Share Button LinkedIn Share Button

1 Answer

0 votes

Input tax credit can be availed immediately on the receipt of goods and service and proper Invoice.
However, as per the provision of Section 16(4) Input tax cannot be availed
a) Where invoice date is old more than one year or
b) After filing of return for the month of September following the end of financial year to which such invoice or invoice relating to debit note pertains
c) Furnishing the annual return whichever is earliest.

It means ITC would not be available on invoice issued by supplier or service provider between 01.09.2017 to 31.03.2018 after 20.10.2018 or date of annual filing of Return (i.e on or before 31.12.2018), whichever is earlier.

answer Jan 2, 2018 by Diya Borda
Contact Us
+91 9880187415
#280, 3rd floor, 5th Main
6th Sector, HSR Layout
Karnataka INDIA.