Captive power transfer pricing and non-resident export commission rules support deletion of adjustments and withholding disallowance in discussed proc...
Cooperative society deposits, member-interest TDS exemption and credit-facility deduction claims require verification through records and supporting e...
Customs jurisdiction over EPCG condition breaches survives export-obligation discharge certificates, requiring alleged fraud and misdeclaration to be ...
Contractual tolerance requires consideration; breach recoveries, qualifying public infrastructure services and road works escape service tax liability...
The High Court allowed the writ petition and set aside the impugned order. The matter was remitted back to the respondent authority to pass a fresh order on merits in accordance with the statutory amendment of Section 16(5) of the CGST Act, 2017. Section 16(5) permits belated availing of input tax credit for the assessment years 2017-2018 to 2020-2021, which was notified by the Central Government vide Notification No. 22/2024-Central Tax dated 08.10.2024. The Court held that the Parliament has extended an olive branch to taxpayers by inserting Section 16(5) to address the issue of delayed availing of input tax credit.
The High Court allowed the writ petition and set aside the impugned order. The matter was remitted back to the respondent authority to pass a fresh order on merits in accordance with the statutory amendment of Section 16(5) of the CGST Act, 2017. Section 16(5) permits belated availing of input tax credit for the assessment years 2017-2018 to 2020-2021, which was notified by the Central Government vide Notification No. 22/2024-Central Tax dated 08.10.2024. The Court held that the Parliament has extended an olive branch to taxpayers by inserting Section 16(5) to address the issue of delayed availing of input tax credit.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
