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INPUT CREDIT FOR THE FY 2019-2020

ITC / Input 208 views 4 replies

PALASH

Nothing

2000 Points Joined June 2012

By mistake One purchase bill not shown for the month of Feb 2020, so no input tax taken on that purchase bill for the month of Feb 2020, but now For the Month of May 20 that purchase is taken into consideration for claiming input tax credit. 1) Should i avail input tax credit for the month of May 20 ?

2) What is the maximum time limit for utilization of Input Tax Credit for the FY 2019-2020 ?

Regards.

Replies (4)

prasad Nilugal

GST Practitioner & Accounts

15024 Points Joined March 2014

What is the date of Invoice and product ?.

David

article Assistant

1644 Points Joined July 2016

Yes you can avail the credit on May 2020. The due date for ITC for FY 2019-20 is The due date of filing GST Return for September 2020
OR
Date of filing the Annual Returns of 2019-20

KRISSHNAN KP

4215 Points Joined February 2018

You can claim ITC up to subsequent September

Pankaj Rawat

GST Practitioner

55062 Points Joined June 2017

1. Yes you can avail ITC in may month GSTR 3B ( As per Circular 26/26/2017 GST)

2. As per Section 16(4) of. GST Act. ITC pertaining to Fy 2019-20 can be avail till September 2020 .