Q : In GST, is there nay time limit for taking the Input Tax Credit ?   

Answer:   As per Section 16 (4) of the Revised Model GST Law, Input Tax Credit cannot be taken beyond the month of September of the following Financial Year to which invoice pertains or date of filing of annual return, whichever is earlier.

Relevant Extract of Section 16 (4) of the Revised Model GST Law  –

16. Eligibility and conditions for taking input tax credit

………

4) A taxable person shall not be entitled to take input tax credit in respect of any invoice or debit note for supply of goods or services after furnishing of the return under section 34 for the month of September following the end of financial year to which such invoice or invoice relating to such debit note pertains or furnishing of the relevant annual return, whichever is earlier.