what is the time limit to take input tax credit of raw material received ?
if we are unable to sale final product even after 1 year from date of receiving raw material then also input tax credit will be allowed or not?
As per GST law, there is no requirement for matching or providing a nexus of input to output supplies for taking ITC so whenever you receive the raw material along with tax invoice then you are eligible to take the ITC even though final products are sold after one year.
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
View Details
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
View Details
CAclubindia
