Menu
How can ITC be lapsed?
Can the ITC which has been in my credit ledger be lapsed after September of the next financial year? If not, how can an ITC be lapsed?
Replies (4)
Check your inbox
Which inbox is it? I can not find inbox in this app. Please help.
If it is in the credit ledger of the portal then such ITC will not lapse ever. But if you didn't take ITC in portal while filing returns and the due date of September return of following financial year has passed then that ITC which you you had not taken will lapse. (The opportunity to take that ITC will lapse.)
Thank you so much CA Altamush Zafar. That answer cleared my doubt.
Recent Topic
- Dividend difference in 26AS, AIS, TIS
- 194JB INCOME
- Filing ITR3 where income under section 44AD with L
- What is superannuation fund
- GST Refund of input services under Inverted Duty S
- Dividend Reporting
- Real operational bottlenecks after firms use Tally
- Purchase return under gst
- Long Term Capital Loss - cannot be carried forward
- Cross-utilization of ITC between Trading and Resta
Related Topics
CAclubindia
