dear sir, new rules for gst utilization of itc, applicable from when July 2019 or April 2019,?
gst 3b itc setoff is apply old rules, new rules apply or not ?
Para 6 of Circular No. 98/17/2019-GST, dt. 23.04.2019
Presently, the common portal supports the order of utilization of input tax credit in accordance with the provisions before implementation of the provisions of the CGST (Amendment) Act i.e. pre-insertion of Section 49A and Section 49B of the CGST Act. Therefore, till the new order of utilization as per newly inserted Rule 88A of the CGST Rules is implemented on the common portal, taxpayers may continue to utilize their input tax credit as per the functionality available on the common portal.
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