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of <h1>Karnataka Amends GST Rules: Input Tax Credit Reduced, New Rule 86A for Fraud Prevention, Rule 138E Updated.</h1> The Karnataka Government has amended the Karnataka Goods and Services Tax Rules, 2017, effective from December 26, 2019. Key amendments include reducing the permissible input tax credit from 20% to 10% starting January 1, 2020. A new rule, 86A, has been introduced, allowing authorities to restrict the use of electronic credit ledger amounts if input tax credits are suspected to be fraudulently availed or ineligible. This restriction can last up to one year. Additionally, rule 138E has been amended to include provisions for those who fail to submit outward supply statements for two months or quarters, effective January 11, 2020.
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