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TMI Blog2021 (7) TMI 1362X X X X Extracts X X X X X X X X Extracts X X X X ..... al year of 2020-2021, but pertains to the financial year of 2018-2019 in which the services were received. Moreover, as per section 16(4) the applicant was mandated to claim input tax credit before the due date of furnishing of the return under section 39 for the month of September 2019 following the end of financial year 2018-2019 to which such invoice pertains or furnishing of the relevant annual return for the year 2018-2019, whichever is earlier. In such a context, it is opined that the applicant is not entitled to take credit of input tax under section 16(4) as it does not fulfill the basic condition that the invoice should pertain to the financial year 2018-2019 where in the supplies are made and for which the tax invoices are supp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... storing the raw material as well as finished goods, the applicant needed some additional storage space and therefore, entered into lease agreements with M/s. Usha Tubes and Pipes Pvt. Ltd., Visakhapatnam (GSTIN:37AAACU7175R1ZG) (referred to as UTPL ) for leasing of godowns situated at UTPL Campus, Mindi, Gajuwaka, Visakhapatnam. The applicant submitted that monthly rental bills were received from M/s UTPL regularly till March 2018. But for the months from April 2018 to March 2019, M/s UTPL issued a single tax invoice bearing No. UTPL0919117KVC dated 01.04.2020 mentioning in the description as Rental charges for the months from April 2018 to March 2019 by showing rent month-wise for 12 months. The invoice mentioned CGST as 26,64,090/- a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sdictional officer concerned on the issue, for which the Advance Ruling was sought by the applicant. 5. Applicant's Interpretation of Law: The applicant is of the view that the bar under Sec 16(4) is not applicable to the invoice under consideration for the following reasons: The provisions of Sec 16(4) are extracted as under: (4) A registered person shall not be entitled to take input tax credit in respect of any invoice or debit note for supply of goods or services or both after the due date of furnishing of the return under section 39 for the month of September following the end of financial year to which such invoice or debit note pertains or furnishing of the relevant annual return, which ever is earlier. Sec 1 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... plicant is of the view that they are entitled to avail ITC on the invoice dated 01.04.2020 on or before filing the GSTR 3B for September 2021 or date of filing of Annual Return for financial year 2020-2021 whichever is earlier. In other words, restriction under Sec 16(4) is not applicable to the invoice dated 01.04.2020 issued in the instant case for renting / leasing services supplied in the year 2018-2019. 6. Virtual Hearing: The proceedings of Hearing were conducted through video conference on 29th June, 2021, for which the authorized representative, Sri Narsi Reddy, DGM Accounts and Taxation attended and reiterated the submissions already made. 7. Discussion and Findings: We have examined the records of the case and cons ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s that whether the invoice mentioned above is hit by the limitation for claiming ITC under sub-section (4) of Section 16 of the CGST/SGST Act, 2017. Section 16 lays down the eligibility and conditions for taking input tax credit which reads as under. 16 (4) A registered person shall not be entitled to take input tax credit in respect of any invoice or debit note for supply of goods or services or both after the due date of furnishing of the return under section 39 for the month of September following the end of financial year to which such invoice or debit note pertains or furnishing of the relevant annual return, whichever is earlier. In view of the above, in the instant case, the invoice which was raised on 01.04.2020 does no ..... X X X X Extracts X X X X X X X X Extracts X X X X
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