Time is the most precious thing in life and every good thing comes with an expiry. Under Indirect Taxation as well, benefit of credit of taxes is subject to various conditions & restrictions including time limit. Time limit to claim credit of input taxes or duty was challenged before various Courts under erstwhile regime. Under GST also, the time limit of taking ITC under Section 16(4) of the CGST Act has been challenged before various High Courts. Recently, in the case of Thirumalakonda Plywoods v. ACST, 2023-VIL-472-AP, the Andhra Pradesh High Court pioneered in examining the constitutional validity of timeline to avail ITC under GST.

Through this Article, our Managing Partner, Mr. Puneet Bansal, Managing Associate Ms. Neha Jain and Senior Associate, Ms. Simran Arora wish to adumbrate upon validity of imposing time limit to avail ITC under GST, in the light of said High Court ruling.

Please click on the below link to read our article titled ‘Input Tax Credit under GST – Good things must come to an end!’

NITYA I Input Tax Credit under GST – Good things must come to an end! I Article 135