Seeks to amend Notification No S.R.O.No. 364/2017 to give effect to the recommendations of the GST Council in it’s 28th meeting held on 21.07.2018 - S. R. O. No. 520/2018 - Kerala SGST
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Input tax credit restriction: exclusion of refund for certain accumulated credits and mandated lapse after prior tax payments. The amendment inserts a proviso excluding the notification's application to input tax credit accumulated on supplies of specified goods received on or after 1st August, 2018, and stipulates that any unutilised input tax credit remaining after payment of tax for and up to July, 2018 on inward supplies received up to 31st 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: exclusion of refund for certain accumulated credits and mandated lapse after prior tax payments.
The amendment inserts a proviso excluding the notification's application to input tax credit accumulated on supplies of specified goods received on or after 1st August, 2018, and stipulates that any unutilised input tax credit remaining after payment of tax for and up to July, 2018 on inward supplies received up to 31st July, 2018 shall lapse.
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