Credit on ST payable

[raj nadh]

Dera Experts,

I have paid GAR-7 challan towards the payment of GTA for the month of January 2014.in December 14 with appropriate interest.

Now shall take input credit of the challan amount (excluding interest) in December 2014/January 2015.

[PAWAN KUMAR]

Dear Sir,

As per my view, Input credit can be claimed on or after the date of payment of GTA. In December'2014, you may claim or in January'2015, you may also claim.

[KASTURI SETHI]

Mind how addressed. DERA in place of 'DEAR.

[Ganeshan Kalyani]

One should double check before posting query particularly the salutation.

[KASTURI SETHI]

Sh.Ganeshan Kalyani Ji,

Yes, Sir. It leaves bad impression on the readers and also on TMI Officers. Any person who writes on this, is being observed through out India. Therefore, one must read twice before okaying the question or answer. Construction of sentence should convey message properly. The purpose of language is to convey message.

[DR.MARIAPPAN GOVINDARAJAN]

You can claim the credit as opined by Shri Pawan Kumar.

[Mahir S]

Sir,

credit is to be taken within a period of one year.

If the payment is made in the month of December 2014, then credit is not available now.

[Ganeshan Kalyani]

Yes the time period of one year is elapsed. Rightly observed by Mahir Sir.

AI Summary

Input tax credit on GTA payment: claim permitted after payment but subject to a one-year limitation. Input tax credit for GTA services may be claimed on or after the date of actual payment of the GAR-7 challan (excluding interest); however, claim is subject to a one-year time bar from the date of payment, and credit is not available if that one-year period has elapsed.