Press Release: Clarification on last date of availment of Input Tax Credit

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The Central Government vide it’s press release dated October 18, 2018 has clarified that, the last date of availing Input Tax Credit (“ITC”) in respect of invoices or debit notes pertaining to period from July 2017 to March 2018 is before the due date of furnishing of return under section 39 for the month of September 2018 i.e. October 20, 2018.

It has also clarified that, apprehensions in the mind of many taxpayers that ITC can be availed only on the basis of matching with GSTR-2A credit is not correct as GSTR-2A is made available to recipient only as a taxpayer facilitation. Taxpayers can avail ITC on self-assessment basis in pursuance of provisions contained under section 16 and rules made thereunder.

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