Input tax credit extension for specified financial years enables claims subject to prescribed cutoffs and no refunds. Retrospective extension of the time-limit to claim input tax credit is clarified: sub-section (5) allows ITC for invoices/debit notes pertaining to financial years 2017 18 to 2020 21 in any return filed up to 30 November 2021; sub-section (6) permits ITC where registration cancellation was later revoked subject to prescribed cutoffs. No refund of tax paid or ITC reversed is available under section 150. Administrative guidance requires authorities to apply these provisions across cases, and prescribes a special rectification procedure under Notification No.22/2024 for affected orders.
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 extension for specified financial years enables claims subject to prescribed cutoffs and no refunds.
Retrospective extension of the time-limit to claim input tax credit is clarified: sub-section (5) allows ITC for invoices/debit notes pertaining to financial years 2017 18 to 2020 21 in any return filed up to 30 November 2021; sub-section (6) permits ITC where registration cancellation was later revoked subject to prescribed cutoffs. No refund of tax paid or ITC reversed is available under section 150. Administrative guidance requires authorities to apply these provisions across cases, and prescribes a special rectification procedure under Notification No.22/2024 for affected orders.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
