ITC under Rule 36(4) reduced to 10% ?

ITC / Input 310 views 3 replies
User Avatar

Accountant
281 Points Joined February 2008

As per the 38th meeting of GST Council held yesterday (18th Dec 2019), it is recommended to reduce 20% limit on ITC under rule 36(4) to 10%.

Tomorrow is the due date for filing Nov-2019 GSTR-3B. In that return, do we have to restrict ITC as per 36(4) to 10% only?

Please advise.

0 Reply Share Follow
On 19 December 2019 at 11:58 Report
Replies (3)
User Avatar

GST Practitioner
55062 Points Joined June 2017
No..... it's the recommendation .

It will be going to implement only when notify by council by issuing the Notification.

So it's not effective as of Today
1 Reply
On 20 December 2019 at 00:08
User Avatar

Accountant
281 Points Joined February 2008

Thanks.

Yes, we did our ITC working for GSTR-3B based on 20% rule. Good that we don't have to rework.

Reply
On 20 December 2019 at 14:57
User Avatar

GST Practitioner
55062 Points Joined June 2017
Yes ....... it is found to be difficult to work once & rework...ooooh twice ..
Reply
On 21 December 2019 at 19:58


CCI Pro

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Threads

More recent discussions | Post

Related Threads
Loading