ITC REVERSED DUE TO OVERDUE PAYMENT ABOVE 180 DAYS, RECREDIT CAN BE TAKEN AFTER 1 YEAR

This query is : Resolved

Santosh Anandrao Patil (Querist)
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19 December 2024 Sir,
We booked invoice on 20/03/2023(F Y 22 23), ITC Credit was taken in same month. In October 23 we reversed the ITC due to non payment to vendor.

we have paid the vendor in March 24. we forgot the take recredit of itc reversed.

can we take the recredit today in the month of December 2024.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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19 December 2024 GST law generally allows for re-claiming reversed ITC only within a year from the date of invoice or from when it was reversed. Since your re-credit would be after this period (December 2024), it may not be permissible under current regulation. However, you can still claim the ITC by filing an application in form GST DRC-20, along with the necessary documents and explanations for the delay.