The circular discusses the time limit u/s 16(4) of the CGST Act, ...

Time limit for claiming input tax credit on supplies from unregistered persons clarified. Don't delay invoices!

Circulars GST

June 27, 2024

The circular discusses the time limit u/s 16(4) of the CGST Act, 2017 for availing input tax credit (ITC) on reverse charge mechanism (RCM) supplies from unregistered persons. It clarifies that the relevant financial year for ITC availment is the year in which the recipient issues the invoice u/s 31(3)(f) of the CGST Act, subject to tax payment. Delayed issuance of invoice may attract interest and penalties under the CGST Act. The circular aims to ensure uniformity in implementing the law and suggests issuing trade notices for awareness.

View Source

← Previous Next →

The circular discusses the time limit u/s 16(4) of the CGST Act, ...

Time limit for claiming input tax credit on supplies from unregistered persons clarified. Don't delay invoices!

Circulars GST

June 27, 2024

You may also like:

The circular clarifies the time limit u/s 16(4) of the KGST Act, 2017, for availing input tax credit (ITC) by the recipient on tax paid under reverse charge mechanism...

Utilisation of Input Tax Credit - outward supply of Gold & Silver bullion - The applicant/appellant can use the Input Tax Credit Balance available in its Electronic...

Disallowance of belated claim of Input Tax Credit was set aside, following the Division Bench ruling in BHARAT EARTH MOVERS LIMITED VERSUS THE STATE OF KARNATAKA, which...

Input Tax Credit - solar power panels procured and installed - blocked credit- When Electricity energy manufactured using the Solar Panels were supplied to TANGEDCO...

Claim for additional input tax credit at the rate - No time limit has been prescribed under the provisions of the Act for making a claim for additional input tax credit....

Input Tax Credit - credit was not effected in Form GSTR-2A - If on examination of the evidence submitted by the assessee, the assessing officer is satisfied that the...

Input tax credit - eligibility of benefit of input tax credit claimed after six months from the date of invoice - the Apex court has held that credit is indefeasible....

The High Court held that Section 17(2) of the CGST Act is not ultra vires Article 14 of the Constitution to the extent it restricts refund under the inverted duty...

Refund - Zero rated supplies - Computation of Turnover - sale of duty credit e-Scrips - Rule 42, Rule 89(4) and Rule 89(4B) of the CGST Act - The relevancy of the...

Availment and utilisation of input tax credit (ITC) - where common credit on inputs or input services partly used for effecting taxable supplies and partly for effecting...

Sub-section (5) and sub-section (6) inserted in section 16 of CGST Act retrospectively extend the time limit to avail input tax credit in certain specified cases...

Filing of Form GST TRAN-1 - time limit for filing of the form - The time limit stipulated under Rule 117 of the Rules is not ultra vires of the Act. This Rule is...

GST, a success of vast proportions, decreased tax incidence on common man, reduced compliance burden and logistics cost for trade and industry. Amendments facilitated...

Input Tax Credit (ITC) - Period of limitation u/s 16(4) - After the decision of Supreme Court in the case of Northern Opertaing Systems, the Petitioner discharged IGST...

The Tribunal allowed the appeal filed by the appellant and set aside the impugned order disallowing CENVAT credit taken on input services used in BTS (Base Transceiver...

Quick Updates: