Input tax credit restriction limits credit on specified goods and causes unutilised balances to lapse after the cutoff. The amendment inserts a proviso excluding accumulated input tax credit on inward supplies of specified goods received on or after the stated cutoff from the earlier notification, and provides that accumulated input tax credit unutilised after payment of tax for and up to the month preceding the cutoff, on supplies received up to that preceding month, 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 limits credit on specified goods and causes unutilised balances to lapse after the cutoff.
The amendment inserts a proviso excluding accumulated input tax credit on inward supplies of specified goods received on or after the stated cutoff from the earlier notification, and provides that accumulated input tax credit unutilised after payment of tax for and up to the month preceding the cutoff, on supplies received up to that preceding month, shall lapse.
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