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When can I claim Input Tax Credit?

QuestionsCategory: GSTWhen can I claim Input Tax Credit?
NidhiJain Staff asked 4 weeks ago

 When can I claim Input Tax Credit?

1 Answers
RyanJain Staff answered 4 weeks ago

Registered person can claim credit of the inputs tax in respect of eligible stock of goods within 30 days from the date of becoming eligible to avail ITC under sub-section (1) of section 18 or within such further period as may be extended by the Commissioner:

  • Claim under clause (a) or clause (b) of sub-section (1) of section 18 can be made only once.
  • Claim under clause (c) of sub-section (1) of section 18 can be made once in a financial year.
  • Claim under clause (d) of sub-section (1) of section 18 can be made as and when the exempted supply become taxable.