https://www.taxtmi.com/forum/issue?id=118347 Availability of Input Tax Credit on paints hinges on whether the expenditure is capitalised as part of immovable property (in which case ITC is blocked) or treated as revenue (in which case ITC is allowed). Time limits apply: credit for a prior year must be availed by the prescribed cut off for that year or by filing the annual return; credit initially availed and reversed for nonpayment may be reclaimed on later payment, but credit neither availed nor reversed within the time limit may be time barred. en-us Sat, 28 Jan 2023 12:25:14 +0530 Thu, 23 Jan 2025 15:54:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=118347 Availability of Input Tax Credit on paints hinges on whether the expenditure is capitalised as part of immovable property (in which case ITC is blocked) or treated as revenue (in which case ITC is allowed). Time limits apply: credit for a prior year must be availed by the prescribed cut off for that year or by filing the annual return; credit initially availed and reversed for nonpayment may be reclaimed on later payment, but credit neither availed nor reversed within the time limit may be time barred. Discussion-Forum GST Sat, 28 Jan 2023 12:25:14 +0530 https://www.taxtmi.com/forum/issue?id=118347