Become a Govt. Certified GST Practitioner in just 60 hrs. Register Now!

ITC UTILISATION

17 December 2020

In case of filing late returns,can someone use later months input for previous month tax
ex: We are filing late returns from January 2020 in October.So can we utilise the ITC of October month to January.....which is relat
ed to later period

Reply
Follow
Share

7 Replies

APURBA CHATTERJEE (QUALIFIED CHARTERED ACCOUNTANT) (608 Points)
Replied 17 December 2020

As per law, INPUT can be availed on the basis of invoice., Deferment of ITC possible.

Upgrade to CAclubindia Pro. Subscribe Now!

Vamshi Krishna (40 Points)
Replied 17 December 2020

I didn't get you can you elaborate it with an example or concern section/rule

Vinay Garg (Student cum businessman cum professional) (859 Points)
Replied 18 December 2020

Yes, you can utilize ITC of october month for Jan liability

Vamshi Krishna (40 Points)
Replied 18 December 2020

Is there any relevant section under GST

Vinay Garg (Student cum businessman cum professional) (859 Points)
Replied 18 December 2020

49(4)

Upgrade to CAclubindia Pro. Subscribe Now!

sabyasachi mukherjee (27715 Points)
Replied 18 December 2020

No if you hv accumulated gst then you can certainly utilize it .

Ravi SADhiyan (Practice) (4510 Points)
Replied 18 December 2020

Originally posted by : Vamshi Krishna
	In case of filing late returns,can someone use later months input for previous month taxex: We are filing late returns from January 2020 in October.So can we utilise the ITC of October month to January.....which is related to later period