hi
friends
some people are saying that if u are not taken itc with in 6months in GST 1 or gstr 3b
what ever the itcbubsrr taken that should be reversed or canceled automatically
is that true
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gst itc
Replies (4)
No its not correct ,......
yes itc reverse after 180 if u not paid bill of payment purchaser party than u can reverse itc as per notification.and notification available in cbsc site.
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.
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.
good clarification and information
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