Time limit for ITC on Debit note

[KARAN VERMA]

Sir

I have made supply and raised Tax invoice dated 5th,Jan. 2019 i.e F.Y 2018-19, now on 03/10/2020, I have to raise debit note against it. ( i.e in F.Y. 2020-21)

In my view, there is no time limit for debit note, therefore I can raise debit note to customer.

Whether customer is eligible to take input credit on such debit note.

AI Summary

Input tax credit time-bar: debit notes permit ITC only if the statutory filing and one year limits are met.
Claiming input tax credit on a debit note is permitted where the debit note relates to an earlier supply, but entitlement is subject to the time limits in the CGST Act: Section 16(4) bars ITC after the due date for filing the return for September following the end of the relevant financial year or after filing the annual return, whichever is earlier, and Section 18(2) imposes a one year limitation from the date of issue of the tax invoice. Consolidation of debit notes does not alter these limits.