Input tax credit restriction: ITC on supplies received after 1 August 2018 for specified goods excluded and unutilised balances lapse. The amendment inserts a proviso excluding the notification's application to input tax credit on supplies of specified goods received on or after 1 August 2018, and provides that any unutilised input tax credit balance for those goods, after tax payment for and up to July 2018 on inward supplies received up to 31 July 2018, 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: ITC on supplies received after 1 August 2018 for specified goods excluded and unutilised balances lapse.
The amendment inserts a proviso excluding the notification's application to input tax credit on supplies of specified goods received on or after 1 August 2018, and provides that any unutilised input tax credit balance for those goods, after tax payment for and up to July 2018 on inward supplies received up to 31 July 2018, shall lapse.
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