Gst input credit

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

23 February 2018 Can I carry forward my Input Credit to next year? OR there is any rule that I have to set off my ITC in March itself?

CMA Bhavya

CMA Bhavya (Expert)
Follow

23 February 2018 Once you entered you Input Tax Credit it will appear in the Input Ledger automatically, so that you can use them for setoff of your credit anytime. however their is a restriction only for taking an fresh input credit on old bill which is 1year after filing your annual returns

RAJA P M

RAJA P M (Expert)
Follow

23 February 2018 It's common activity...

You can carry forward to next month... Even Next Financial Year

Keshav

Keshav (Expert)
Follow

26 February 2018 There is no restriction in law for carrying forward ITC credit. The restriction is only for claiming credit which has to be claimed before filing Annual return or September. Eg: for the period 2017-18, credit to be claimed before filing an Annual return or Septemeber 2018 whichever is earlier.