Sub-section (5) and sub-section (6) inserted in section 16 of ...

Amendment extends input tax credit availment period for 2017-21; allows rectification of wrongly restricted ITC demands.

Circulars GST

October 17, 2024

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 pertaining to financial years 2017-18 to 2020-21. No refund of tax paid or input tax credit reversed is available where now eligible under sub-section (5) or (6). A special procedure notified allows rectification of orders u/ss 73, 74, 107 or 108 confirming demand for wrong availment of input tax credit due to contravention of sub-section (4), now permissible under sub-section (5) or (6). Application for rectification to be filed electronically within 6 months, uploading prescribed details. Proper officer to decide within 3 months, following principles of natural justice if adversely affecting the person. Appeal lies against rectified order. The special procedure applies only where demand confirmed involves issue of wrong input tax credit availment due to sub-section (4) contravention, now rectifiable under sub-section (5) or (6).

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Sub-section (5) and sub-section (6) inserted in section 16 of ...

Amendment extends input tax credit availment period for 2017-21; allows rectification of wrongly restricted ITC demands.

Circulars GST

October 17, 2024

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