17 April 2019
Yes As per sub-section (4) of section 16 of the Central Goods and Services Tax Act, 2017 (the CGST Act), Time limit to avail ITC is the due date for furnishing the return for the month of September (under section 39 of the CGST Act) or furnishing of annual return, whichever is earlier.
17 April 2019
I AM ASKING FOR UTILIZATION OF GST CREDIT & NOT AVAILMENT OF GST CREDIT I MEAN WHITHIN HOW MUCH TIME WE HAVE TO UTILIZE OUR GST CREDIT AVAILABLE IN ELECTRONIC CREDIT LEDGER IS THERE ANY PROVISON THERE FOR THE SAME?
There is no time limit in the GST laws for carrying forward of unutilised ITC. Thus, it can be carried forward to indefinite period until it is set off against output tax liability
18 April 2019
Sorry it's related to textile sector. I withdraw my comments. The Tax Research Unit of CBIC has issued a draft circular to address the controversy arising due to lapse of credit in respect of fabrics vide Notification 20/2018.
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