If ITC not claimed is there any issue

This query is : Resolved 

05 February 2025 ITC availed but not claimed in previous years is there any issue

05 February 2025 According to Section 16(4) of the Central Goods and Services Tax Act, 2017 (“CGST Act”), a registered person must claim Input Tax Credit (ITC) within the earlier of the following:
30th November following the end of the financial year to which the invoice or debit note pertains,
or The date of filing the annual return.

05 February 2025 But I was not happened what are the consequences


05 February 2025 Unless authority extends the timeline or any other alternative declared, it cannot be claimed.

05 February 2025 Is there any penalty or interst has to pay for non claimed ITC

05 February 2025 No.

05 February 2025 Thanking very much sir

05 February 2025 You are welcome.




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