Input tax credit timing: debit note date governs financial-year time-bar, and e-invoice QR/IRN suffices for verification. With effect from January 1, 2021, the date of issuance of a debit note (not the underlying invoice date) determines the financial year for the time-bar under section 16(4) of the JGST Act; ITC availment on debit notes on or after that date is governed by the amended provision. For e-invoices issued under rule 48(4), electronic production of the QR code embedding the IRN suffices instead of a physical tax invoice during movement. The restriction in the proviso to section 54(3) on refund of unutilized ITC applies only where goods are actually liable to and suffer export duty at export time.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Input tax credit timing: debit note date governs financial-year time-bar, and e-invoice QR/IRN suffices for verification.
With effect from January 1, 2021, the date of issuance of a debit note (not the underlying invoice date) determines the financial year for the time-bar under section 16(4) of the JGST Act; ITC availment on debit notes on or after that date is governed by the amended provision. For e-invoices issued under rule 48(4), electronic production of the QR code embedding the IRN suffices instead of a physical tax invoice during movement. The restriction in the proviso to section 54(3) on refund of unutilized ITC applies only where goods are actually liable to and suffer export duty at export time.
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