CA Final/Inter Fast track classes available for May 20 attempt. Call: 1800-3000-0505

Machinery slow sales


CHRISTAS HERWIN   26 January 2020

CHRISTAS HERWIN

 6 likes  74 points

| My Other Post

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 ?

avater

Roshni (Studwnt)     26 January 2020

Roshni
Studwnt 
 66 likes  997 points

View Profile | My Other Post

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.

avater

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

RAJA P M
"Do the Right Thing...!!!" 
 8114 likes  111069 points

View Profile | My Other Post

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

avater

Pankaj Rawat (GST Practitioner)     26 January 2020

Pankaj Rawat
GST Practitioner 
 3225 likes  43371 points

View Profile | My Other Post

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

avater

Ramaraju G   27 January 2020

Ramaraju G

 30 likes  655 points

View Profile | My Other Post

@ 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??

1 Like
avater

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

RAJA P M
"Do the Right Thing...!!!" 
 8114 likes  111069 points

View Profile | My Other Post

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...

2 Like
avater

Ramaraju G   27 January 2020

Ramaraju G

 30 likes  655 points

View Profile | My Other Post

Thank you Raja.

avater

CHRISTAS HERWIN   27 January 2020

CHRISTAS HERWIN

 6 likes  74 points

View Profile | My Other Post

Thank you all

avater

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

RAJA P M
"Do the Right Thing...!!!" 
 8114 likes  111069 points

View Profile | My Other Post

Welcome to Both of You...


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register  




Popular Discussion


view more »