ITC Lapse

Dear Faheem Akram,

Notification no. 20/2018, dt.26/07/2018.

THE  NOTIFICATION 20/2018 IS BEYOND THE POWERS  I HAVE FILLED RTI APPLICATION FOR IT , COPY OF THE SAME ENCLOSSED HEREWITH.

WE HAVE PAID VALUE IN CASH FOR SURPLUS GST AND IN CONSIDERATION OF IT THE ACT PROVIDE US RIGHT TO UTILISE THE SAME FOR OUR TAX LIABILITIES IN FUTURE. AS PER MINUTES OF GST COUNCIL  MEETING GST IS NOT LAPSED AND THERE IS NO ANY SECTION WHICH EMPOWER TO LAPSE ANY KIND OF GST.

KEEP PATIENCE AS REFUND IS ALLOWED IT WILL BE EASY TO UTILISE THE ACCUMULATED ITC.