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Question ID : 44415

input credit for the FY 2021-22

Assessee had opted for filling quarterly return. As per the 2B of Dec.'22 quarter, ITC of fy 2021-22 booked now by the supplier. Can it be taken by now as the 30-11-22 elapsed for taking credit for FY 2021-22

Posted by SURAJ KUMAR CHOUDHARY on Jan 27, 2023

Filed Under GST

Answer ID : 83899

Pursuant to the amendment in Section 16(4) of the CGST Act, 2017, a taxable person shall not be entitled to take ITC in respect of any invoice or debit note or supply of goods or services or both, after the 30th day of November following the end of the financial year to which such invoice or debit note pertains or filing of the relevant annual return, whichever is earlier.

Posted by DIVYANSH GOYAL on Jan 27, 2023
Answer ID : 83917

Not allowed as the time limit to claim ITC expired

Posted by VINAY BHARGAV KUMAR G on Feb 13, 2023