Input tax credit restriction: accumulated credits on specified goods disallowed and unutilised balances will lapse. The amendment inserts a proviso excluding application of input tax credit for goods listed at serial numbers 1, 2, 3, 4, 5, 6, 6A, 6B, 6C and 7 where supplies are received on or after 1st August 2018, and provides that accumulated input tax credit on inward supplies received up to 31st July 2018, remaining unutilised after payment of tax for and up to 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: accumulated credits on specified goods disallowed and unutilised balances will lapse.
The amendment inserts a proviso excluding application of input tax credit for goods listed at serial numbers 1, 2, 3, 4, 5, 6, 6A, 6B, 6C and 7 where supplies are received on or after 1st August 2018, and provides that accumulated input tax credit on inward supplies received up to 31st July 2018, remaining unutilised after payment of tax for and up to July 2018, shall lapse.
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