The deadline to claim input tax credit

Input tax credit is not open-ended; there is a cut-off for claiming it against an invoice.

The deadline

Credit for an invoice of a financial year must generally be claimed by the 30th November of the following financial year, or the date of filing the annual return, whichever is earlier.

Practical impact

Do not sit on old purchase invoices. Reconcile every month so eligible credit is claimed in time and nothing slips past the deadline.