FinMin issues clarification on last day of availing Input Tax Credit

The Finance Ministry on Thursday clarified that the last date for availing Input Tax Credit (ITC) under the Goods and Services Tax for the period from July 2017 to March 2018 is either December 31 or the date of filing of the annual return, whichever is the earlier. In a series of tweets, the finance minister also said that the apprehension that the ITC can only be availed only on the basis of&nbs…