Under GST, the time limit to claim or reclaim Input Tax Credit (ITC) for any financial year is the earlier of: 30th November of the following financial year or the actual date of filing the relevant annual return (GSTR-9). For example, ITC for FY 2023-24 must be claimed by 30th November 2024 or the date of filing the GSTR-9 for that year, whichever is earlier.
Rule 37 under GST Act prescribes the conditions for the reversal of input tax credit (ITC) on goods and/or services if full payment is not made within 180 days of the invoice's issue.
For most registrants, ITCs must be claimed by the due date of the return for the last reporting period that ends within four years after the end of the reporting period in which the ITCs could have first been claimed.
Time Limits for Claiming ITC
If the supplier has not paid the tax on the supply, you have up to 36 months from the date of supply to claim ITC. There are some exceptions to these time limits, so it's essential to consult with a tax professional or refer to the tax laws in your jurisdiction for specific guidance.
The credit can be claimed only before November of the next financial year or the filing of the annual return, whichever is earlier. The time limit for claiming ITC is the earlier of the next financial year's November return due day or filing the annual returns of this year.
It starts from the day you become entitled to the credit, typically the date of the tax invoice or the date the payment is made, depending on your accounting method. After four years, you can no longer amend or include a claim for that GST credit in your Business Activity Statement (BAS).
Manual > GST ITC-01 - Claim made under Section 18 (1) (a)
The rehabilitation credit is recaptured if the property is disposed of or otherwise ceases to be investment credit property during the 5-year recapture period.
The ITC claim deadline is 30th November following the end of the financial year, or the date of filing the annual return (GSTR-9), whichever is earlier. For FY 2024-25, the deadline to claim ITC is 30th November 2025.
The law also provides for refund of unutilised ITC where credit accumulation is on account of inverted duty structure, subject to certain riders. Time lines have been set for processing of refund claims and claims not settled within 60 days will be paid with interest @6%.
4-year credit time limit
If you account for GST on a cash basis, the earliest tax period in which you could claim a GST credit for a purchase is the tax period in which you make the payment. If you make the payment over multiple tax periods, the 4-year credit time limit applies separately to each part of the payment.
Generally, CRA can only audit someone up to four years after a tax return has been filed, although, in some cases, such as cases of suspected fraud or misrepresentation, CRA can go farther back and there is no time-limit for the re-assessment.
Most registrants claim their input tax credits (ITCs) and input tax refunds (ITRs) when they file their GST and QST returns for the reporting period during which the purchases were made. However, you generally have four years in which to claim your ITCs and ITRs for a given reporting period.
Under Section 16(2) of the CGST Act, a recipient is required to reverse ITC if the value of the supply and tax is not paid within 180 days from the invoice date. Rule 37 operationalises this reversal and permits re-availment of the credit upon final payment.
A single 180-day period for making one or more investments in one or more QOFs; the first day of 180-day the period is the last day of the tax year in which the sale occurred. A separate 180-day period for each installment payment; each 180-day period begins the day the installment payment is received.
The IRS 7-year rule primarily applies to keeping records for claiming a deduction for bad debts or losses from worthless securities, allowing a longer period to file for a credit or refund, but it's not a universal audit limit; it's often a recommended safe buffer for general record-keeping, with the standard IRS audit period usually being 3 years, extending to 6 years for substantial income omission (over 25%) or foreign income issues, and indefinitely for fraud.
Claiming for past years
If you were eligible for the DTC in past years but did not claim the disability amount, you may be able to claim it going back up to 10 years.
As an NRI, PIO, or OCI, you may be required to file tax returns in India if your Indian income surpasses the specified threshold or if you seek to claim refunds for excess tax deductions. While filing an ITR is mandatory only under certain circumstances, voluntary filing can be beneficial in many ways.
September 15, 2026 - Third quarter 2026 estimated tax payment due. October 15, 2026 - Deadline to file your extended 2025 tax return. If you chose to file an extension request on your tax return, this is the due date for filing your tax return.
Attention Tax Payers !!! Last date to avail input tax credit, reverse ineligible input tax credit for the financial year 2024-2025 through GSTR -3B is November 30th 2025.
You can claim the credit for the years 2022, 2023, 2024 and 2025 by completing your Income Tax Return in myAccount. To claim the credit and complete your Income Tax Return, please follow these steps: Sign into myAccount. Click on 'Review your tax for the previous 4 years' in the 'PAYE Services' section.
The claim has to be made before the expiry of two years from the last day of the quarter in which such supply was received. It may be noted that refund would be granted by central government as facility of a single UIN has been made available to such agencies. CBIC has issued instructions vide Circular No.
Form ITC 01 should be filed within 30 days of the date of registration/migration to a regular scheme. Invoices up to one year old can be claimed in case of inputs and up to five years in case of capital goods.