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of <h1>Amendment to GST Notification: Input Tax Credit Lapse on Certain Goods Effective August 1, 2018, as per GST Council.</h1> Notification No. 20/2018-Central Tax (Rate) amends Notification No. 05/2017-Central Tax (Rate) to implement recommendations from the GST Council's 28th meeting. Effective from August 1, 2018, the amendment specifies that the input tax credit accumulated on certain goods will not apply to supplies received on or after this date. Additionally, any unutilized input tax credit for these goods, accumulated up to July 31, 2018, will lapse after tax payments for July 2018. This amendment is issued by the Ministry of Finance, Department of Revenue, Government of India.
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