sir 1.is there any time limit to avail my ITC , generally we use to bulk purchase , in the month of march and every year ITC is getting accumulated is there any restriction for such c/fd?
2. a. while export of goods ITC is getting accumulated and the client don't want refund , can it get accumulated and Set off against local outward taxable supply if any?
b.if refund only option is there any time limit to apply?
Understanding GST: No Time Limit on Bulk Purchase ITC, Claim by Next September; Export ITC Offset Options Explained A user inquired about the time limits and options for availing Input Tax Credit (ITC) under the Goods and Services Tax (GST) regime. They asked if there are restrictions on carrying forward ITC from bulk purchases and if accumulated ITC from exports can be set off against local taxable supplies. Two respondents clarified that there is no time limit for claiming ITC on bulk purchases, but it must be claimed by September of the following year. ITC can be set off against domestic GST liabilities, and if a refund is the only option, the application must be made within two years from the relevant date. (AI Summary)
TaxTMI 
TaxTMI 
TaxTMI 
