Seeks to amend Notification No. 05/2017 (Rate) to give effect to the recommendations of the GST Council in it's 28th meeting held on 21.07.2018. - FTX.56/2017/Pt-III/144-20/2018 - Assam SGST
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Input tax credit restriction: accumulated credit for specified goods received after cutoff will not apply and may lapse. The amendment excludes application of the notification to input tax credit accumulated on supplies of specified goods received on or after 1 August 2018, and provides that accumulated input tax credit unutilised after payment of tax through 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: accumulated credit for specified goods received after cutoff will not apply and may lapse.
The amendment excludes application of the notification to input tax credit accumulated on supplies of specified goods received on or after 1 August 2018, and provides that accumulated input tax credit unutilised after payment of tax through July 2018 on inward supplies received up to 31 July 2018 shall lapse.
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