CBIC has recently issued notification no. 49/2019-CT dated 9 October 2019,
according to which, ITC of unmatched credits, can now be availed only to the extent of 20 per cent of the eligible available credits reported in GSTR-2A.
This restriction is applicable from which period/month. Does this apply to GSTR 3B of sept 19 also?
Menu
ITC restriction applicability
Replies (3)
What are these links ?
"Save as otherwise provided in these rules, they shall come into force on the date of their publication in the Official Gazette."
This means the rules are applicable from 9th October, 2019. According to me this should not be applicable to GSTR 3B of September month, since we could've filed the same before 9th October as well. For the purpose of uniformity we can presume and interpret that these amendments are applicable from 9th October onwards. i.e. we need to comply with the rules for returns pertaining to the tax period commencing from 9tn October onwards..
This means the rules are applicable from 9th October, 2019. According to me this should not be applicable to GSTR 3B of September month, since we could've filed the same before 9th October as well. For the purpose of uniformity we can presume and interpret that these amendments are applicable from 9th October onwards. i.e. we need to comply with the rules for returns pertaining to the tax period commencing from 9tn October onwards..
Seems to be right justifications.
Thanks
Thanks
Recent Threads
- Proprietorship to Pvt Ltd - Is Slump Sale / BTA ma
- Pan and Aadhar Link Issue
- Fund Transfer to Foreign Country and TCS provision
- ITR updated return
- Company change Status from CIRP into Active
- Can a LLP Park money in MFs and do F&O
- ACCOUNTING TREATMENT FOR FIXED ASSETS STANDING AT
- GST Rule 14A and Form GST REG-32: Simplified Regis
- Filed Hotel commission from International Company
- Reinsurance brokerage section?
Related Threads
CAclubindia
