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Machinery slow sales


CHRISTAS HERWIN   26 January 2020

CHRISTAS HERWIN

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I bought machine and paid GST of 1.5 laks. And raw material and paid GST for 25 thousand .total . I couldn't sell my products(paper bags) with gst. very slow movement..

Is there any time limit to claim ITC of 1.75 Laks ?
could I claim ITC in another way without showing GST bill ?

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Roshni (Studwnt)     26 January 2020

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You might have already claimed ITC. The ITC which you have in your credit ledger stays forever even if sale doesn't happen. therefore no time limit to utilize such ITC.

RAJA P M ("Do the Right Thing...!!!")     26 January 2020

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No more time limit if You are claimed the ITC. You can utilize the credit ledger balance any time...

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Pankaj Rawat (GST Practitioner)     26 January 2020

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It will be there in ECL unless you utilise or surrender your GSTN

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Ramaraju G   27 January 2020

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@ Roshini, Raja, Rawat. Then what is the limit of 180days from the end of financial year, is it for claiming of ITC not for utilising of ITC??

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RAJA P M ("Do the Right Thing...!!!")     27 January 2020

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What is the limit of 180days from the end of financial year...?

- The said limit is payment to supplier from date of purchases.


is it for claiming of ITC not for utilising of ITC??

- It's claiming ITC in GSTR 3B return. Once claiming then we can utilize anytime up-to closing of business.
- Claiming ITC time limit is next FY September GST returns or Annual return which is earlier...

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Ramaraju G   27 January 2020

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Thank you Raja.

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CHRISTAS HERWIN   27 January 2020

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Thank you all

RAJA P M ("Do the Right Thing...!!!")     27 January 2020

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Welcome to Both of You...


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