TaxTMI 
TaxTMI 
XYZ (Manufacturer) had missed out claiming of ITC on certain imported machinery as well as on certain locally procured packing materials received in the financial year 17 – 18. As per the provisions, the deadline for claiming ITC for financial year 17 – 18 was 31.03.19. If XYZ claims such ITC in the current month, it might be definitely objected during departmental audit. If XYZ decides to contest, what are the chances of getting a favourable decision at CESTAT level or at High Court since the ITC involved is very large.
ITC pertaining to financial year 17 - 18
28 Jan 2020 
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Input Tax Credit on imports may be defendable despite time limits, while delayed domestic credits face slim prospects.
For missed ITC in FY 2017-18, imported goods supported by a bill of entry and an entry in table 4A.1 of Form GSTR 3B may be defended as not barred by the time limit, whereas delayed claims for domestic procurements such as packing materials face strong statutory time bar hurdles and have a remote chance of success on appeal. (AI Summary)
For missed ITC in FY 2017-18, imported goods supported by a bill of entry and an entry in table 4A.1 of Form GSTR 3B may be defended as not barred by the time limit, whereas delayed claims for domestic procurements such as packing materials face strong statutory time bar hurdles and have a remote chance of success on appeal. (AI Summary)