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Gst credit time limit

ITC / Input 157 views 2 replies

I had imported goods during August 2017 and forgotten to take igst credit.  Now I had noticed the same.  Can I take the igst credit in July 2018. I have not  filled returns other than gstr3b and gstr1. 

Replies (2)

You can take credit as per provision 16(4)

A registered person shall not be entitled to take input tax credit in respect of any invoice or debit note for supply of goods or services or both after the due date of furnishing of the return under section 39 for the month of September following the end of financial year to which such invoice or invoice relating to such debit note pertains or furnishing of the relevant annual return, whichever is earlier.
 

ITC can be claimed only within one year from the date of issue of tax invoice relating to supply. In any other case, the last date to claim ITC is earlier of the two below:

Before the filing of valid return for the month of September following the end of FY to which such invoice is related, or Before the filing of the annual return

Note: As per section 44, the last date for filing of annual return is 31st December following the end of the financial year


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