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,

AI Summary

GST Credit Ledger: No Time Limit to Offset Current Year Tax, But ITC Availment Has Restrictions A user inquired about the time limit for utilizing the GST Credit Ledger to offset their current year's tax liability. Multiple respondents confirmed that there is no time limit for utilizing the credit in the Electronic Credit Ledger, though there is a limitation on availing the Input Tax Credit (ITC). The consensus among the participants was that the credit can be freely used unless specific restrictions are imposed by the GST Department. The discussion concluded with the original inquirer expressing gratitude for the shared insights.