Hello All,
This is regarding a Notification issued by CBIC on GST Circular No. 142/12/2020- GST dt 09.10.2020.
With effect from 01.01.2020 vide Notf no. 75/2019 – CT dt. 26.12.2019, Rule 36(4) is amended with 20% excess of ITC can be claimed against 2A instead of 10%. it has been ignored in Circular No. 142/12/2020- GST dt 09.10.2020 and for Feb to Aug and even for Sept 20, it has been restricted to 110% of 2A, should we consider it as overruling of the previous circular or a mistake…?
CAclubindia
