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gst itc

10 August 2018

hi
friends

some people are saying that if u are not taken itc with in 6months in GST 1 or gstr 3b

what ever the itcbubsrr taken that should be reversed or canceled automatically

is that true

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4 Replies

Pankaj Rawat (GST Practitioner) (55047 Points)
Replied 10 August 2018

No its not correct ,......

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vikram kerekar (1244 Points)
Replied 11 August 2018

yes itc reverse after 180 if u not paid bill of payment purchaser party than u can reverse itc as per notification.and notification available in cbsc site.

1 Like

Vinod Babu (24191 Points)
Replied 12 August 2018

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.