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ITC of Current Year to pay tax liability of PYs, Goods and Services Tax - GST

Issue Id: - 116780
Dated: 8-10-2020
By:- Jewel Fanai
ITC of Current Year to pay tax liability of PYs

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Can ITC of current FY 20-21 claimed during September 20 be used to pay liabilities of FY 17-18, 18-19 to be paid through DRC-03.

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Showing Replies 1 to 2 of 2 Records

1 Dated: 9-10-2020

Yes. You can use so. Govt. is compensated by way of payment of interest for the delayed payment of tax.

2 Dated: 9-10-2020
By:- Ganeshan Kalyani

One to one co-relation is not required. So, I am also of the view that ITC can be avialed to knock of previous GST liability.


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