ITC ADJUSTMENT
Vamshi Krishna (40 Points)
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
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.
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