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Input tax credit

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(Querist)
27 October 2018 WHAT IS THE VALIDITY FOR AN I.T.C INVOICE?
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kathir

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kathir (Expert)
14 November 2018 ITC invoice validity not beyond the September of the following FY to which
invoice pertains or date of filing of annual return,whichever is earlier .

Example For instance, A Ltd, a buyer has a Purchase Invoice was dated 14th June 2017( FY 2017-18), wants to claim GST paid on that purchase. As per the criteria the validity period explained in below.

The Due date of filing GST return for September 2018( FY 2018-19) is 20th October 2018 and the Date of filing GST Annual Return for FY 2017-18 is 31st December 2018, whichever is earlier will be the time period within which X Ltd has to claim ITC. Therefore, the date is 20th October 2018.

In simple words , A Ltd can claim this ITC in any of the months between June 2017 to September 2018.

Hope you can understand.
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