ITC utilisation time limit

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Parvez

Parvez (Querist)
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27 December 2017 Within how many months ITC on inputs be utilised fully. Is there any time limit or not?

Udaya Chandran

Udaya Chandran (Expert)
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27 December 2017 Before the due date filing of Sep month return in the next financial year.

KAVIRAJA ADDANGADI

KAVIRAJA ADDANGADI (Expert)
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27 December 2017 ITC is not allowed after any of the following happens
due date of return for month of September of next financial year
annual return filed for relevant year (Filing date, not due date)

Dibin Divyakumar

Dibin Divyakumar (Expert)
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28 December 2017 There is no time limit for utilisation of the ITC once availed the credit to Electronic Credit Ledger.
Sec 16(4) applies for availment of input credit only, once availed to Electronic credit ledger within the time prescribed in Sec 16(4) you can utilise whenever you have the output liability.

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