Seeks to amend Notification No 1129-F.T. dated 28-06-2017 to give effect to the recommendations of the GST Council in it’s 28th meeting held on 21.07.2018 - 1036-F.T. - West Bengal SGST
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Input tax credit restriction: exclusion for specified goods; unutilised credits lapse after cutoff for prior inward supplies. Amends the prior notification to exclude application to input tax credit accumulated on supplies of specified goods received on or after a cutoff date, and provides that any unutilised input tax credit remaining after payment of tax for periods up to the cutoff month, in respect of inward supplies received on or before the cutoff, shall lapse.
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 restriction: exclusion for specified goods; unutilised credits lapse after cutoff for prior inward supplies.
Amends the prior notification to exclude application to input tax credit accumulated on supplies of specified goods received on or after a cutoff date, and provides that any unutilised input tax credit remaining after payment of tax for periods up to the cutoff month, in respect of inward supplies received on or before the cutoff, shall lapse.
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