TaxTMI 
TaxTMI 
- Section 16(4) Provides for Time Limit regarding Input tax set off.
It is not clear to me whether the time limit Apllies for Input tax “Availment” or Input tax ‘Credit”
Input Tax Credit
03 Sep 2018 
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Input tax credit time limit: claim ITC before the annual-return deadline or the September return due date to preserve credit.
Section 16(4) restricts entitlement to take input tax credit to the earlier of the due date for furnishing the section 39 return for the month of September following the end of the financial year to which the invoice pertains or the furnishing of the relevant annual return; unclaimed ITC after that cutoff lapses and cannot thereafter be taken. (AI Summary)
Section 16(4) restricts entitlement to take input tax credit to the earlier of the due date for furnishing the section 39 return for the month of September following the end of the financial year to which the invoice pertains or the furnishing of the relevant annual return; unclaimed ITC after that cutoff lapses and cannot thereafter be taken. (AI Summary)