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AAR ruled on Input Tax Credit (ITC) eligibility for import IGST. The authority held that TR-6 challan is not a valid document for ITC availment under GST rules. Bill of entry, whether original or re-assessed, is an eligible document for ITC, subject to Section 16(4) of CGST Act time limitations. The time limit for ITC on differential IGST begins from the re-assessment date of bill of entry, provided the re-assessment is not due to fraud or wilful misstatement. The ruling emphasizes that ITC availment must be completed by the 30th November following the financial year or annual return filing, whichever is earlier.
AAR ruled on Input Tax Credit (ITC) eligibility for import IGST. The authority held that TR-6 challan is not a valid document for ITC availment under GST rules. Bill of entry, whether original or re-assessed, is an eligible document for ITC, subject to Section 16(4) of CGST Act time limitations. The time limit for ITC on differential IGST begins from the re-assessment date of bill of entry, provided the re-assessment is not due to fraud or wilful misstatement. The ruling emphasizes that ITC availment must be completed by the 30th November following the financial year or annual return filing, whichever is earlier.
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