Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Statutory Provisions

Home Acts & Rules GST Draft-Bills-Reports FAQ on GST dated 21.9.2016 based on Draft Model GST Chapters List Chapter 10 Input Tax Credit This

Question 28 - What is the time limit for taking ITC? - FAQ on GST dated 21.9.2016 based on Draft Model GST

FAQ on GST dated 21.9.2016 based on Draft Model GST
Chapter 10
Input Tax Credit
  • Contents

Q 28. What is the time limit for taking ITC?

Ans. 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.

 
 
 
 

Quick Updates:Latest Updates