When can I claim Input Tax Credit under GST?

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Sakshi Shah

GST
ITC

Input Tax Credit is the credit of GST paid on the purchase of goods or services. It is utilized to pay GST on the sale of goods or services. In order to be eligible to claim Input Tax Credit one must be registered under GST.

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Enter GST number or GSTIN (GST Identification Number) and verify GST details online. GST Number or GSTIN is a unqiue 15 digit number allotted after GST Registration.
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GST Number Search: Verify GST Number or GSTIN online
Enter GST number or GSTIN (GST Identification Number) and verify GST details online. GST Number or GSTIN is a unqiue 15 digit number allotted after GST Registration.
Explore

The taxpayer can claim the Input tax credit of GST if he fulfills the following conditions:

What is the time limit to claim Input Tax Credit under GST?

The taxpayer cannot claim Input credit for any tax invoice pertaining to a financial year after:

How to Claim Input Tax Credit?
Know about the procedure for claiming Input Tax Credit
Read More
How to Claim Input Tax Credit?
Know about the procedure for claiming Input Tax Credit
Read More

When can I not claim Input Tax Credit under GST?

Input Tax Credit is ineligible and the taxpayer cannot claim it under the following situations:

Claiming ITC in case of restaurant services and hotel services is different for every situation. Read more about it here.
Read Answer
Claiming ITC in case of restaurant services and hotel services is different for every situation. Read more about it here.
Read Answer

FAQs

Can I claim ITC for previous month?

A taxpayer who has not availed the eligible ITC of any of the previous months, may avail such ITC in any of the subsequent months, but anytime either before the filing of the annual return or filing of the GST Returns for September belonging to subsequent financial year, whichever is earlier.

Can we take ITC on RCM in same month?

Yes, you can avail the ITC of RCM in the same month after making the Cash payment of Tax Under RCM.

How long can ITC be taken?

Input tax credit cannot be taken on purchase invoices which are more than one year old. Period is calculated from the date of the tax invoice.

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