https://www.taxtmi.com/forum/issue?id=106182 Proposed reversal of Input Tax Credit arises from late filing of monthly returns beyond the statutory cut-off; the tax department asserts credit must be availed within 90 days or by the end of the financial year, and therefore ITC claimed after that period is ineligible and subject to reversal with possible penalty and interest. Respondent submissions stress a bona fide technical delay, claim that credits were applied to the purchase months, and seek condonation of delay. en-us Sat, 19 Oct 2013 14:07:33 +0530 Thu, 23 Jan 2025 15:57:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=106182 Proposed reversal of Input Tax Credit arises from late filing of monthly returns beyond the statutory cut-off; the tax department asserts credit must be availed within 90 days or by the end of the financial year, and therefore ITC claimed after that period is ineligible and subject to reversal with possible penalty and interest. Respondent submissions stress a bona fide technical delay, claim that credits were applied to the purchase months, and seek condonation of delay. Discussion-Forum VAT / Sales Tax Sat, 19 Oct 2013 14:07:33 +0530 https://www.taxtmi.com/forum/issue?id=106182