Boom Ltd purchased goods from Zoom Ltd. for ₹ 20 lakh at various points of time in the month of June, 2022. Zoom Ltd. gave tax invoice for ₹ 14 lakh in the same month. For the balance amount tax invoice was received by B
CS Executive · Tax Laws · PYQS · June 2023
Boom Ltd purchased goods from Zoom Ltd. for ₹ 20 lakh at various points of time in the month of June, 2022. Zoom Ltd. gave tax invoice for ₹ 14 lakh in the same month. For the balance amount tax invoice was received by Boom Ltd. on 20th January, 2023. What is the maximum time limit for Boom Ltd. to claim ITC in respect of purchases made from Zoom Ltd?
Answer & Explanation:
The official key records '*'. This question is excluded from automatic grading because the source does not supply an unambiguous valid choice. Official source note: All options are wrong: As per Section 16(4), Input Tax Credit can n ot be availed after 30th November following end of Financial Year to which such invoice /debit note pertains or furnishing annual return, earlier.
Topics: GST
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