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of <h1>Jammu & Kashmir Amends GST Rules: Input Tax Credit for Certain Goods Lapses After July 2018 Payments.</h1> The Government of Jammu and Kashmir has amended Notification No. SRO-CST-5 dated 08-07-2017 through SRO-GST-44, effective from July 27, 2018. The amendment specifies that the input tax credit accumulated on supplies received on or after August 1, 2018, for certain goods will not apply. Additionally, any unutilized input tax credit for these goods, accumulated up to July 31, 2018, will lapse after tax payments for July 2018. This change is enacted under the Jammu and Kashmir Goods and Services Tax Act, 2017, following the Council's recommendations.
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