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of <h1>Finance Bill 2024 Amends CGST Act Section 16: New Rules for Input Tax Credit on Past Invoices</h1> Clause 114 of the Finance (No. 2) Bill, 2024, amends section 16 of the Central Goods and Services Tax Act, effective from July 1, 2017. It introduces sub-section (5), allowing registered persons to claim input tax credit for invoices or debit notes from financial years 2017-18 to 2020-21 in returns filed by November 30, 2021. Sub-section (6) permits credit for invoices or debit notes during registration cancellation, provided returns are filed within 30 days after revocation. No refunds are allowed if tax was paid or credit reversed.
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