CCI Online Learning
What do you want to learn today?

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Time limit to reclaim ITC reversed on Retention amount for FY 1718?

GIRISH LELE   19 October 2018


 6 likes  56 points

| My Other Post

We reversed proportionate ITC on certain retentions done in FY 1718. Can we availed this credit as and when we pay this to vendors? Please guide


Pankaj Rawat (GST Practitioner)     19 October 2018

Pankaj Rawat
GST Practitioner 
 3496 likes  47334 points

View Profile | My Other Post

As per proviso of Section 16(2)
The recipient shall be entitled to avail of the credit of input tax on payment made by him of the amount towards the value of supply of goods or services or both along with tax payable thereon.
And As per Sub rule (4) of Rule 37, The time limit of September month will be not apply in case of Reclaiming of Credit.

Hence can Reclaim of credit (As per section 16(2) can be claim After Sept18 also

Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Popular Discussion

view more »

Trending Tags
GST Live Class    |    x