Reverse charge input tax credit time limit: ITC period is tied to the financial year when the recipient issues the invoice. Where a registered recipient must pay tax on reverse charge for supplies from unregistered suppliers and issues the invoice under the statutory invoice provision, the relevant financial year for the time limit to avail input tax credit is the financial year in which the recipient issues that invoice; ITC is available only subject to payment of the tax and compliance with other statutory conditions, and delayed issuance/payment attracts interest and potential penal consequences.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Reverse charge input tax credit time limit: ITC period is tied to the financial year when the recipient issues the invoice.
Where a registered recipient must pay tax on reverse charge for supplies from unregistered suppliers and issues the invoice under the statutory invoice provision, the relevant financial year for the time limit to avail input tax credit is the financial year in which the recipient issues that invoice; ITC is available only subject to payment of the tax and compliance with other statutory conditions, and delayed issuance/payment attracts interest and potential penal consequences.
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