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of <h1>Assam GST Clarifies ITC Eligibility, E-Invoice Requirements, and Refund Restrictions u/ss 16(4) and 54(3.</h1> The circular from the Principal Commissioner of State Tax, Assam, addresses clarifications on GST-related issues. It explains that from January 1, 2021, the date of a debit note, not the underlying invoice, determines the financial year for input tax credit (ITC) eligibility under section 16(4) of the Assam GST Act. It also states that physical copies of tax invoices are not required during the movement of goods if an e-invoice is generated, as the QR code with an embedded Invoice Reference Number suffices for verification. Additionally, the circular clarifies that the restriction on refunding unutilized ITC under section 54(3) applies only to goods subject to export duty. Goods with a NIL export duty rate or exempt from export duty are not subject to this restriction.
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