Input tax credit conditions refined by amending section 16 to align payment and supplier-specific wording. Section 16 of the Central Goods and Services Tax Act is amended in sub-section (2) by substituting the second proviso to refer to tax paid by the registered person along with interest payable under section 50, instead of addition to output tax liability with interest. The third proviso is amended by inserting the words 'to the supplier' after 'made by him'. The amendment comes into force on 01-10-2023.
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Provisions expressly mentioned in the judgment/order text.
Input tax credit conditions refined by amending section 16 to align payment and supplier-specific wording.
Section 16 of the Central Goods and Services Tax Act is amended in sub-section (2) by substituting the second proviso to refer to tax paid by the registered person along with interest payable under section 50, instead of addition to output tax liability with interest. The third proviso is amended by inserting the words "to the supplier" after "made by him". The amendment comes into force on 01-10-2023.
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