This discussion clarifies that remaining Input Tax Credit (ITC) from FY 2019-20 can be automatically carried forward to FY 2020-21, with no manual intervention needed. It also advises that an Epson projector purchased for business should be treated as an asset and the ITC claimed over 60 months, rather than as immediate expenditure.
08 June 2020
Can we carry forward FY 2019-20 remaining ITC to 2020-21...? Do we need to make anything manually to bring it to next year or It will automatically takes place..?