What invoice-age limit applies to special input tax credit claims under Section 18(1) and (2) of the CGST Act?
Question and options
What invoice-age limit applies to special input tax credit claims under Section 18(1) and (2) of the CGST Act?
Three years from invoice issue
One year from invoice issue
Five years from invoice issue
No limit
Answer and explanation
Correct answer: B - One year from invoice issue
Section 18(2) of the CGST Act, 2017 bars input tax credit under section 18(1), for example on registration or on leaving the composition levy, on goods covered by an invoice issued more than one year earlier. The longer periods are not found in section 18.
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