Input tax credit restriction: exclusion for ITC on specified goods received after commencement, unutilised credits will lapse. The amendment inserts a proviso excluding input tax credit accumulated on supplies of specified goods received on or after the amendment's commencement from the earlier notification, and provides that any unutilised input tax credit in respect of those goods, after payment of tax for the period up to the month preceding commencement on inward supplies received up to that 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 ITC on specified goods received after commencement, unutilised credits will lapse.
The amendment inserts a proviso excluding input tax credit accumulated on supplies of specified goods received on or after the amendment's commencement from the earlier notification, and provides that any unutilised input tax credit in respect of those goods, after payment of tax for the period up to the month preceding commencement on inward supplies received up to that cutoff, shall lapse.
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