CA Umesh Sharma
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Arjuna (Fictional Character): Krishna, what is the new amendment that has been notified by the CBIC in respect of claim of ITC which will be applicable from 1st Jan 2022? Krishna (Fictional Character): Arjuna, Earlier taxpayer had been allowed to claim ITC based on the 4 conditions mentioned in section 16. However, in section 16 of the Central Goods and Services Tax Act, in sub-section (2), after clause (a), CBIC has inserted 5th condition via clause (aa) namely, the details of the invoice or
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