ITC cannot be claimed on debit notes issued in FY 2020-21 pertaining to the transactions made in FY 2018-19
Last updated: 01 July 2021
Court :
AAR Gujarat
Brief :
The AAR, Gujarat in the matter of M/S I-Tech Plast India Pvt. Ltd. [Advance Ruling No. GUJ/GAAR/R/10/2021 decided on January 20, 2021] held that, Input Tax Credit ('ITC') in relation to Central Goods and Services Tax ('CGST') and State Goods and Services Tax ('SGST') charged separately, cannot be claimed on Debit Notes ('DN') issued by the supplier in current Financial Year ('FY') i.e. 2020-21, towards the transactions for the period 2018-19. Further held that, even after amendment in Section 16(4) of the Central Goods and Services Tax Act, 2017 ('CGST Act'), the ITC on DN should be seen w.r.t. the FY for which corresponding invoices were issued instead of FY in which DN were issued.
Citation :
Advance Ruling No. GUJ/GAAR/R/10/2021 decided on January 20, 2021
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Bimal Jain
Published in GST
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