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of <h1>Clarification on ITC time limit u/s 16(4) of WBGST Act for supplies from unregistered persons via RCM.</h1> The circular clarifies the time limit for availing input tax credit (ITC) under Section 16(4) of the West Bengal Goods and Services Tax Act, 2017, concerning supplies received from unregistered persons under the reverse charge mechanism (RCM). It states that the relevant financial year for ITC purposes is the year in which the recipient issues the invoice, not when the supply was received. The recipient must issue an invoice and pay the tax under RCM to claim ITC. Delayed issuance of invoices may result in interest charges and potential penalties under Section 122 of the WBGST Act.
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