Income-tax exemption for specified regulatory fees and government grants applies subject to non-commercial activity and continuing compliance conditio...
Digital accessibility audit and remediation deadlines extended, while all other disability-compliance obligations for regulated entities remain unchan...
Section 16(5) extends the time-limit for claiming input tax credit where the relevant returns were filed before 30 November 2021. The material states that denial based solely on the earlier Section 16(4) deadline is unsustainable in such circumstances, subject to the claimant otherwise satisfying eligibility requirements. It describes partial relief setting aside denial of credit for delayed filing of specified returns and requiring reconsideration under Section 16(5). A separate denial based on absence of supporting documents remains unaffected, so documentary substantiation continues to govern admissibility of the credit.
Section 16(5) extends the time-limit for claiming input tax credit where the relevant returns were filed before 30 November 2021. The material states that denial based solely on the earlier Section 16(4) deadline is unsustainable in such circumstances, subject to the claimant otherwise satisfying eligibility requirements. It describes partial relief setting aside denial of credit for delayed filing of specified returns and requiring reconsideration under Section 16(5). A separate denial based on absence of supporting documents remains unaffected, so documentary substantiation continues to govern admissibility of the credit.
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