Extension of ITC Verification Till 31st December 2020 by Rajasthan Govt

The Income-tax credit Rajasthan commercial tax department extended the date to verify till December 31, 2020.

Under Act 18(2) of the Rajasthan Value Added Tax Act, 2003 the Commissioner of Commercial Taxes Rajasthan Jaipur, Abhishek Bhagotia delegated addressed with section 174 of the Rajasthan Goods and Services Tax Act, 2017 revised the Notification No. F.16 (100) Tax/CCT/14. 15/726 dated June 20, 2017.

In the stated information, clause 1, for the current expression “30.09.2020” the expression “31.12.2020” shall be replaced. September 30, 2020, to December 31, 2020, is the extended date for testing Input Tax Credit (ITC) A complete guide for understanding the basics of input tax credit and it calculation with detailed examples under GST (Goods and Services Tax) India done by the administrators.

There are multiple categories (A, B, C and D) within the ITC verification listed below as per CTD Notification:

Sr. No.	Category	Pending amount limit of ITC for verification for one FY
1	A	ITC Amount Upto Rs.25,000/- Period between FY -2006-07 to 2017-18
2	B	ITC Amount between Rs.25,000/- to Rs.2,00,000/- Period between -2006-07 to 2010-11
3	C	ITC Amount Greater than Rs.2,00,000/ Period between -2006-07 to 2010-11
4	D	ITC Amount greater than Rs.25,000/-Period – 2011-12 & 2017-18