Input tax credit restriction: transitional credit for specified goods lapses if unutilised after the July utilisation cutoff. The amendment excludes application of the notification to input tax credit accumulated on supplies of specified goods received on or after 1 August 2018, and provides that for those goods any accumulated input tax credit left unutilised after payment of tax up to July 2018 on inward supplies received up to 31 July 2018 shall lapse; the amendment is effective 27 July 2018.
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: transitional credit for specified goods lapses if unutilised after the July utilisation cutoff.
The amendment excludes application of the notification to input tax credit accumulated on supplies of specified goods received on or after 1 August 2018, and provides that for those goods any accumulated input tax credit left unutilised after payment of tax up to July 2018 on inward supplies received up to 31 July 2018 shall lapse; the amendment is effective 27 July 2018.
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