Input tax credit timing: ITC period tied to invoice issuance year for RCM supplies from unregistered suppliers. Where a registered recipient must self-issue an invoice under Section 31(3)(f) and pay tax under reverse charge, the relevant financial year for the time limit under Section 16(4) for availing input tax credit is the financial year in which the recipient-issued invoice pertains; ITC is subject to payment of tax and other conditions of sections 16 and 17, and delayed issuance/payment attracts interest and potential penalties.
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: ITC period tied to invoice issuance year for RCM supplies from unregistered suppliers.
Where a registered recipient must self-issue an invoice under Section 31(3)(f) and pay tax under reverse charge, the relevant financial year for the time limit under Section 16(4) for availing input tax credit is the financial year in which the recipient-issued invoice pertains; ITC is subject to payment of tax and other conditions of sections 16 and 17, and delayed issuance/payment attracts interest and potential penalties.
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