Condition of Availment of ITC for the specified Financial year [ Section 16(5) of CGST Act ] - GST Ready Reckoner - GST

Section 16(5) of CGST Act - Condition of Availment of ITC for the specified Financial year [ Inserted vide Finance (No.2 ) Act, 2024 , w.e.f. 01.07.2017 ] [ Come into force w.e.f. 01.11.2024 vide N.No. 17/2024 dated 27.09.2024 ] Notwithstanding anything contained in section 16(4), in respect of an invoice or debit note for supply of goods or services or both pertaining to the Financial Years 2017-18, 2018-19, 2019-20 and 2020-21, the registered person shall be entitled to take input tax credit in any return under section 39 which is filed up to the thirtieth day of November, 2021. No refund shall be made of all the tax paid or the input tax credit reversed, which would not have been so paid, or not reversed. [ Inserted vide Section 150 of Finance (No. 2) Act, 2024 ]