Amended Section 16(4) to de-link ITC on Debit Note with Invoice fails to get stamping of Gujarat AAR in case of M/s I-Tech Plast

Last updated: 17 April 2021
Quick Summary
The Gujarat Authority for Advance Ruling (AAR) has ruled on the Input Tax Credit (ITC) claim for debit notes under Section 16(4) of the CGST Act. Despite an amendment intended to de-link the ITC claim period for debit notes from the original invoice date, the AAR maintained that the claim period is still tied to the financial year of the original invoice. This ruling potentially makes the amendment redundant and could lead to further disputes.

Court :
Gujarat AAR

Brief :
Input tax credit is a beneficial piece of legislation but subject to various conditions and limitations prescribed under Section 16 and 17 of CGST Act, 2017.

Citation :
RE: M/S. I-TECH PLAST INDIA PVT. LTD.,2021 (4) TMI 558 - AUTHORITY FOR ADVANCE RULING, GUJARAT

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CA Nikhil Jhanwar
Published in GST
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