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Time limit to reclaim ITC reversed on Retention amount for FY 1718?

19 October 2018

We reversed proportionate ITC on certain retentions done in FY 1718. Can we availed this credit as and when we pay this to vendors? Please guide

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Pankaj Rawat (GST Practitioner) (55052 Points)
Replied 19 October 2018

As per proviso of Section 16(2)
The recipient shall be entitled to avail of the credit of input tax on payment made by him of the amount towards the value of supply of goods or services or both along with tax payable thereon.
And As per Sub rule (4) of Rule 37, The time limit of September month will be not apply in case of Reclaiming of Credit.

Hence can Reclaim of credit (As per section 16(2) can be claim After Sept18 also