How can ITC be lapsed?
Laltha Zuala (153 Points)
27 November 2021Laltha Zuala (153 Points)
27 November 2021
Laltha Zuala
(153 Points)
Replied 28 November 2021
CA Altamush Zafar
(GST Consultant)
(15976 Points)
Replied 28 November 2021
If it is in the credit ledger of the portal then such ITC will not lapse ever. But if you didn't take ITC in portal while filing returns and the due date of September return of following financial year has passed then that ITC which you you had not taken will lapse. (The opportunity to take that ITC will lapse.)
Laltha Zuala
(153 Points)
Replied 28 November 2021
25 Hours GST Scrutiny of Return and Notice Handling(With Recording)