ITC of Current Year to pay tax liability of PYs, Goods and Services Tax - GST

[Jewel Fanai]

Can ITC of current FY 20-21 claimed during September 20 be used to pay liabilities of FY 17-18, 18-19 to be paid through DRC-03.

Posts / Replies

[KASTURI SETHI]

Yes. You can use so. Govt. is compensated by way of payment of interest for the delayed payment of tax.

[Ganeshan Kalyani]

One to one co-relation is not required. So, I am also of the view that ITC can be avialed to knock of previous GST liability.