The unclaimed ITC of earlier years
This query is : Resolved
03 June 2022
How can I claim the unclaimed ITC of earlier years i.e more than 5 years old. Please explain as there is no output GST to this export business
03 June 2022
As of now you can claim ITC of 2021-22. You cannot claim ITC of further previous periods.
03 June 2022
ok Sir. Can I claim that older ITC by doing some local sales or this ITC claim amount cannot be recover forever?
03 June 2022
Cannot be claimed forever. If you have already claimed you can utilise it anytime
04 June 2022
You can claim ITC of any financial year till last date of return of following September.
04 June 2022
@ Rashmi Gandhi
That September has been now amended but I am sure you are not aware.....
That September has been now amended but I am sure you are not aware.....
04 June 2022
Thanks for your advance knowledge dear CA Altamush Zafar.......
04 June 2022
You are welcome
But I will advise you to brush up your knowledge instead of misguiding querists especially in the experts section
But I will advise you to brush up your knowledge instead of misguiding querists especially in the experts section
04 June 2022
Thanks for your concern and if you have some special knowledge then share it with notifcation otherwise don't misguide other. We are not here to answer your questions.
04 June 2022
I am not the one who is misguiding and your posts are proof of it.
04 June 2022
Why you are not sharing notification for any of your view. For your information just read the below
Sec 16(4) states that A registered person shall not be entitled to take input tax credit in respect of any invoice or debit note for supply of goods or services or both after the 6[thirtieth day of November] following the end of financial year to which such invoice or 7[****] debit note pertains or furnishing of the relevant annual return, whichever is earlier.
Now there is written 6 which states that ubstituted (w.e.f. a date yet to be notified) by s. 100 of The Finance Act 2022 (No. 6 of 2022) for ''due date of furnishing of the return under section 39 for the month of September".
and this clarification is from official website of CBIC. If you dont have link , i will provide you same. So next time before saying anything just read bare act and official website not fake sites like you.
Link is here: https://taxinformation.cbic.gov.in/content-page/explore-act
Sec 16(4) states that A registered person shall not be entitled to take input tax credit in respect of any invoice or debit note for supply of goods or services or both after the 6[thirtieth day of November] following the end of financial year to which such invoice or 7[****] debit note pertains or furnishing of the relevant annual return, whichever is earlier.
Now there is written 6 which states that ubstituted (w.e.f. a date yet to be notified) by s. 100 of The Finance Act 2022 (No. 6 of 2022) for ''due date of furnishing of the return under section 39 for the month of September".
and this clarification is from official website of CBIC. If you dont have link , i will provide you same. So next time before saying anything just read bare act and official website not fake sites like you.
Link is here: https://taxinformation.cbic.gov.in/content-page/explore-act
04 June 2022
Now finally you know that finance act has been passed and its contents. Took you two days. Two days ago you didn't even know that finance act was passed. Shocking as you are a CA. But that what happens when you are a jack of all trade.
All I said it has been amended and it has been amended via finance act.
Yes the date is yet to be notified
All I said it has been amended and it has been amended via finance act.
Yes the date is yet to be notified
04 June 2022
If date not notified then how can you follow the rule, till now old rule is applicable just like limit of composition for which date notified after very long period. So intead of doing unnecessary comments understand what other experts are saying.
You will be correct but only when the notification will be issued. So better do your work and let the other doing their works.
You will be correct but only when the notification will be issued. So better do your work and let the other doing their works.
04 June 2022
The thing is simple you didn't knew of finance act 2022. Thanks to me now you know. Just admit
Otherwise you were just conveniently unaware of a lot many things like e-way bill, interest rate, finance act being passed section 115BAC...what kind of an expert are you
Otherwise you were just conveniently unaware of a lot many things like e-way bill, interest rate, finance act being passed section 115BAC...what kind of an expert are you
04 June 2022
No need of your recognition
04 June 2022
Yes your inadequate knowledge speaks for itself
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