9911796707
TMI BlogClarification in respect of certain GST related issuesX X X X Extracts X X X X X X X X Extracts X X X X ..... HGST Act ), hereby clarifies each of these issues as under : Sl. No. Issue Clarification 1. Section 16(4), as amended with effect from January 1, 2021, provides that 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. Doubts have been raised seeking following clarification :1. Which of the following dates are relevant to determine the financial year for the purpose of section 16(4) : (a) date of issuance of debi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nderlying invoice for purposes of availing input tax credit. 3. Accordingly, it is clarified that : (a) with effect from January 1, 2021, in case of debit notes, the date of issuance of debit note (not the date of underlying invoice) shall determine the relevant financial year for the purpose of section 16(4) of the HGST Act. (b) the availment of ITC on debit notes in respect of amended provision shall be applicable from January 1, 2021. Accordingly, for availment of ITC on or after January 1, 2021, in respect of debit notes issued either prior to or after January 1, 2021, the eligibility for availment of ITC will be governed by the amended provision of section 16(4), whereas any ITC availed prior to January 1, 2021, in respect of debit not ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ance shall carry (a) the invoice or bill of supply or delivery challan, as the case may be ; and (b) a copy of the e-way bill or the e-way bill number, either physically or mapped to a radio frequency identification device embedded on to the conveyance in such manner as may be notified by the Commissioner. 2. Further, rule 138A(2) of the HGST Rules, after being amended vide Notification No. 88/GST-2, dated October 20, 2020, states that In case, invoice is issued in the manner prescribed under sub-rule (4) of rule 48, the quick reference (QR) code having an embedded Invoice Reference Number (IRN) in it, may be produced electronically, for verification by the proper officer in lieu of the physical copy of such tax invoice. 3. A conjoint readi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... oms notification or which are not covered under Second Schedule to the Customs Tariff Act, 1975, cannot be considered to be subjected to any export duty under Customs Tariff Act, 1975. 2. Accordingly, it is clarified that only those goods which are actually subjected to export duty, i. e., on which some export duty has to be paid at the time of export, will be covered under the restriction imposed under section 54(3) from availment of refund of accumulated ITC. Goods, which are not subject to any export duty and in respect of which either NIL rate is specified in Second Schedule to the Customs Tariff Act, 1975 or which are fully exempted from payment of export duty by virtue of any customs notification or which are not covered under Second ..... X X X X Extracts X X X X X X X X Extracts X X X X
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