Input tax credit
This query is : Resolved
27 October 2018
WHAT IS THE VALIDITY FOR AN I.T.C INVOICE?
14 November 2018
ITC invoice validity not beyond the September of the following FY to which
invoice pertains or date of filing of annual return,whichever is earlier .
Example For instance, A Ltd, a buyer has a Purchase Invoice was dated 14th June 2017( FY 2017-18), wants to claim GST paid on that purchase. As per the criteria the validity period explained in below.
The Due date of filing GST return for September 2018( FY 2018-19) is 20th October 2018 and the Date of filing GST Annual Return for FY 2017-18 is 31st December 2018, whichever is earlier will be the time period within which X Ltd has to claim ITC. Therefore, the date is 20th October 2018.
In simple words , A Ltd can claim this ITC in any of the months between June 2017 to September 2018.
Hope you can understand.
invoice pertains or date of filing of annual return,whichever is earlier .
Example For instance, A Ltd, a buyer has a Purchase Invoice was dated 14th June 2017( FY 2017-18), wants to claim GST paid on that purchase. As per the criteria the validity period explained in below.
The Due date of filing GST return for September 2018( FY 2018-19) is 20th October 2018 and the Date of filing GST Annual Return for FY 2017-18 is 31st December 2018, whichever is earlier will be the time period within which X Ltd has to claim ITC. Therefore, the date is 20th October 2018.
In simple words , A Ltd can claim this ITC in any of the months between June 2017 to September 2018.
Hope you can understand.
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