A material which was exempt until September 2019 became taxable thereafter. They have took ITC proportionately on few capital goods in one shot. Is it possible now to reclaim ITC by filing Form GST ITC 01?
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Form GST ITC 01
Replies (5)
Sir, could please elaborate the query.
Sir, cut off date to claim ITC through form ITC 01 when an exempt supply of goods becomes taxable supply. [Section 18(1)(d)]
Sir the cut off date as per law is 30 days from the date you become eligible to avail the ITC (the day preceding the day on which exemption was withdrawn) and such date can only be extended by Commissioner.
Thank you so much sir
Most welcome sir
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