ITC related query

Faheem Akram (802 Points)

19 April 2018

how long time can avail Unutilized ITC...under law it's prescribed time limit??

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kajal shah (practising ca) (40 Points)
Replied 19 April 2018

up to 20 th october of next year or filling of annual return for the relevant year
whichever is earlier..

Faheem Akram (802 Points)
Replied 19 April 2018

no no...I am asking if I have ITC and I don't use it...when it's not available for me

RAJA P M ("Do the Right Thing...!!!") (128091 Points)
Replied 19 April 2018

Once You are claimed the ITC in Your returns then it ll c/f to Continuously without time limit as per business running periods

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Faheem Akram (802 Points)
Replied 19 April 2018

when we after due date of 3B so we will have to calculate interest and how to caculate it?

RAJA P M ("Do the Right Thing...!!!") (128091 Points)
Replied 19 April 2018

Interest will be calculate @ 18%p.a...

Interest = Tax Value (X) 18% / 365 (X) No. of Delayed Days...

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SAMMAIAH (P) (57 Points)
Replied 19 April 2018

up to filing annual return

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