https://www.taxtmi.com/forum/issue?id=119367 Practitioners concur that Input Tax Credit (ITC) available in a current period may be utilized to discharge earlier GST tax liabilities because there is no required one to one correlation between the period of credit and the period of liability. Section 16(4) creates a time limit for availing ITC but does not limit subsequent utilization, and ITC cannot be used where tax is mandated to be paid by cash. en-us Fri, 18 Oct 2024 19:59:33 +0530 Fri, 24 Jan 2025 10:40:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=119367 Practitioners concur that Input Tax Credit (ITC) available in a current period may be utilized to discharge earlier GST tax liabilities because there is no required one to one correlation between the period of credit and the period of liability. Section 16(4) creates a time limit for availing ITC but does not limit subsequent utilization, and ITC cannot be used where tax is mandated to be paid by cash. Discussion-Forum GST Fri, 18 Oct 2024 19:59:33 +0530 https://www.taxtmi.com/forum/issue?id=119367