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GST NOTIFICATION 49/2019
When it has came in to effect about Notification no 49/2019 in the subject of RESTRICTION ON availment of ITC, whether it was a return period of September 2019 or October 2019?
Replies (4)
CBIC restricts ITC to 20% in case of difference with details uploaded by suppliers in GSTR-1 and it further notifies that GSTR 3B is a return under section 39 with retrospective effect from 01-07-2017
Effective from 9/10/2019
Effective from 01-07-2017 or 09-10-2019?.
There is no clarity in this regard. However, the same may be effective from next return. CBIC yet to provide clarity on the same and a circular providing clarification is awaited in this respect.
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