As per new rules for Input tax credit utilisation w.e.f 1st February 2019 it's impact to business if interstate purchase is more than local purchase...
pls confirm if any extension or current updation regarding this rules.
also pls confirm is there any penalty provison if not complaince...
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New rules for ITC utilisation
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https://cleartax.in/s/gst-input-tax-credit-utilisation
go to the above link
Sir,
it means that the system automatically sets off the credits with liabilities. if system sets off credits according to old procedure there is no issue will be raised by Govt. ?
it means that the system automatically sets off the credits with liabilities. if system sets off credits according to old procedure there is no issue will be raised by Govt. ?
yes but you have to above system
System is not accepting the new rule
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