Time Limit to avail ITC for FY 2021-22

As per Section 16(4) of the CGST Act, 2017, a registered person shall not be entitled to take the input tax credit in respect of any invoice or debit note for the supply of goods or services or both after the due date of furnishing of the return under section 39 for the month of September following the end of the financial year to which such invoice or debit note pertains or furnishing of the relevant annual return, whichever is earlier.

Correspondingly, the taxpayers need to be cautious for availing ITC for the invoices/ debit notes pertaining to FY 2021-22 till the filing of return u/s 39 for the month of September 2022.

Amendment made through Finance Act, 2022 regarding the time limit to avail ITC till 30th  day of November following the end of financial year is not notified till date.