ITC ADJUSTMENT

28 November 2020

can someone adjust his ITC availed in 2020-21 against tax of 2019-20,the return was filed in 2020-21 itself

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3 Replies

Ankit Dave (Student CA Final ) (46 Points)
Replied 28 November 2020

There is no restriction on adjusting ITC, you can adjust infinitely ITC, once it shown in your ITC ledger.

CA Mayank A Jain (Chartered Accountant in Practice) (1260 Points)
Replied 28 November 2020

In the absence of any specific restriction, you can utilize the ITC for payment of output tax liability.

JATINDER KUMAR (Accountant) (3662 Points)
Replied 28 November 2020

Yes, you can

No restrictions

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