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ITC GST input tax credit

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Utpal roy

back office asst

146 Points Posted on 23 May 2024

I have received a bill for the month of January 2024 in May 2024, can I get itc in May 2024

Replies (3)

Quick Summary

You can claim input tax credit (ITC) for a bill received in May 2024 for January 2024, even if it's past the initial deadlines. The claim period is extended to the earlier of the annual return filing due date or the September return of the next financial year. Recent amendments allow claims based on GSTR-2B, with provisions for late claims if justified, and a new deadline of 30th November of the following financial year.

CA Anoop Kumar Sharma

Accounts Manager

1470 Points Posted on 23 May 2024

Yes, claiming input GST is allowed. The time limit to claim whichever is earlier (1) due date for filing the annual return for that financial year, (2) the date of filing the monthly return for September of the next financial year. However, according to the new amendment, you can now claim input tax credit as reflected in GSTR-2B but we can go beyond the GSTR-2B if we have sufficient reason behind the late input taken.