Input tax credit retrospectively restored; taxpayers may seek rectification of tax orders to reclaim eligible credit rights. Retrospective insertion of sub-section (5) and sub-section (6) in section 16 restores taxpayers' entitlement to input tax credit for specified past financial years and for periods where registration was cancelled and later revoked, subject to the temporal conditions of those provisions. A related amendment disallows refunds of tax paid or input tax credit reversed that would not have been so paid or reversed had the amendment always been in force. A special rectification procedure under section 148 has been notified for affected taxpayers; electronic filing steps, required annexure details, officer responsibilities, timelines, and appellate rights on rectified orders are prescribed.
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 retrospectively restored; taxpayers may seek rectification of tax orders to reclaim eligible credit rights.
Retrospective insertion of sub-section (5) and sub-section (6) in section 16 restores taxpayers' entitlement to input tax credit for specified past financial years and for periods where registration was cancelled and later revoked, subject to the temporal conditions of those provisions. A related amendment disallows refunds of tax paid or input tax credit reversed that would not have been so paid or reversed had the amendment always been in force. A special rectification procedure under section 148 has been notified for affected taxpayers; electronic filing steps, required annexure details, officer responsibilities, timelines, and appellate rights on rectified orders are prescribed.
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