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Current ITC rules Doubt

MPR Sanjay Kumar (2985 Points)

23 April 2024

Current ITC avail due date duration what ? input tax credit ....give me a practical examples with date

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CA Mayank A Jain (Chartered Accountant in Practice) (1035 Points)
Replied 23 April 2024

Presently, the last date for availment of ITC is 30th November of the next financial year. Since November GSTR-3B cannot be filed by 30th November, the last return in which ITC can be claimed is October GSTR-3B provided it is filed by 30th November.

Eg: Laptop was purchased on 01.01.2023. The last date for availing credit of this is in the return for the month of October 2023 which should be filed by 30th November. If filed after 30th November, then credit would be denied.