Live Course on Drafting of Appeal and Reply of Penalty Notice by CA Sachin Sinha. Register Now!!

input credit

NISHANT SHAH (Tax Practioner) (235 Points)

21 August 2018

dear sir,
Is it possible to take credit of old purchase bills. say invoice of July 17 in July 18

Reply
Follow
Share

4 Replies

RAJA P M ("Do the Right Thing...!!!") (127542 Points)
Replied 21 August 2018

Yes.... It's possible to Take.

1 Like

Ramesh Râm (8 Points)
Replied 21 August 2018

sir last 3monthes ago I didn't taken some invoice s so I am claim in this month....so plz tell me.....sir

RAJA P M ("Do the Right Thing...!!!") (127542 Points)
Replied 21 August 2018

Yes... You can take ITC if You deal Taxable Supplies...

Vinod Babu (24191 Points)
Replied 21 August 2018

Yes agree with Raja sir.
ITC can be claimed only within one year from the date of issue of tax invoice relating to supply. In any other case, the last date to claim ITC is earlier of the two below:

Before the filing of valid return for the month of September following the end of FY to which such invoice is related, or Before the filing of the annual return

Note: As per section 44, the last date for filing of annual return is 31st December following the end of the financial year.