Time limit to utilize GST Credit Ledger

[Ashiesh Prremji]

Dear Sir,

Is there any time limit to utilize GST Credit Ledger in normal scenario? Suppose if i have accumulated ITC in my GST Credit Ledger , can i use it to set-off outward liability for current year?

Thank You,

[Ganeshan Kalyani]

Sir, you can utilize the credit in Electronic Credit Ledger to offset your current year's GST liability.

[Ganeshan Kalyani]

Sir, in my view, there is no time limit to utilize the credit lying in Electronic Credit Ledger.

[YAGAY and SUN]

Credit ledger is just like erstwhile RG 23 A & C Part II but online in the control of GST Department/Revenue Department of Finance Ministry. There is no time line and debit/payment of taxes can be conducted/made freely unless until any restrictions if not put of GST Department.

[KASTURI SETHI]

There is no time limitation for using ITC. Limitation is only for availing ITC . I also support the views of both experts.

[Ashiesh Prremji]

Thank you very much to all of you for expressing your views!

AI Summary

GST input tax credit usability: no time limit to utilise electronic credit ledger to offset tax liabilities.
Credits in the Electronic Credit Ledger may be applied to offset current and future GST liabilities; there is no prescribed time limit for utilization of ledger balances. Administrative controls may impose specific restrictions, and separate statutory or procedural limitations govern the initial availing of Input Tax Credit, but utilisation of lawfully credited amounts is not time-barred.