Input tax credit restriction on specified goods: credits for post-cutoff receipts excluded and unutilised credits lapse Amendment to Notification No.5/2017 inserts a proviso restricting input tax credit for the goods listed at specified serial numbers where supplies are received on or after the 1st day of August, 2018, and provides that any unutilised input tax credit balance remaining after payment of tax up to the month of July, 2018, in respect of inward supplies received on or before 31st July, 2018, shall lapse.
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Provisions expressly mentioned in the judgment/order text.
Input tax credit restriction on specified goods: credits for post-cutoff receipts excluded and unutilised credits lapse
Amendment to Notification No.5/2017 inserts a proviso restricting input tax credit for the goods listed at specified serial numbers where supplies are received on or after the 1st day of August, 2018, and provides that any unutilised input tax credit balance remaining after payment of tax up to the month of July, 2018, in respect of inward supplies received on or before 31st July, 2018, shall lapse.
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