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Input Tax Credit, Goods and Services Tax - GST

Issue Id: - 116869
Dated: 24-11-2020
Input Tax Credit

  • Contents

sir there any time limit to avail my ITC , generally we use to bulk purchase , in the month of march and every year ITC is getting accumulated is there any restriction for such c/fd?

2. a. while export of goods ITC is getting accumulated and the client don't want refund , can it get accumulated and Set off against local outward taxable supply if any?

b.if refund only option is there any time limit to apply?

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Showing Replies 1 to 2 of 2 Records

1 Dated: 24-11-2020

Dear sir,

1.NO time limit, you may claim on bulk purchase. previous year ITC you may claim up to next year Sept 20- GSTR-3B return due date of filing.

2.Yes ITC can be set off against the domestic supplies GST liability.

3.If only refund option is available, the time limit to refund application is two years from the relevant date.

2 Dated: 27-11-2020
By:- Ganeshan Kalyani

1. Once ITC is taken into Electronic Credit Ledger (ECL), it's utilision can be done at anytime. There is time limit within which the credit is to be taken into ECL.


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