Input Tax Credit conditions require supplier filing and GSTR 2B communication; recovery by auction for seized goods under penalty rules. Input tax credit is restricted: no ITC shall be availed unless the supplier has furnished invoice/debit note details in FORM GSTR 1 or via invoice furnishing facility and those details have been communicated to the recipient in FORM GSTR 2B. Separately, recovery of penalty for goods or conveyance detained or seized in transit is governed by new rule 144A prescribing inventory, valuation, notice in FORM GST DRC 10, auction procedures, payment timelines, issuance of FORM GST DRC 12 on transfer, re auction rules, and exceptions for perishable or hazardous goods.
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 conditions require supplier filing and GSTR 2B communication; recovery by auction for seized goods under penalty rules.
Input tax credit is restricted: no ITC shall be availed unless the supplier has furnished invoice/debit note details in FORM GSTR 1 or via invoice furnishing facility and those details have been communicated to the recipient in FORM GSTR 2B. Separately, recovery of penalty for goods or conveyance detained or seized in transit is governed by new rule 144A prescribing inventory, valuation, notice in FORM GST DRC 10, auction procedures, payment timelines, issuance of FORM GST DRC 12 on transfer, re auction rules, and exceptions for perishable or hazardous goods.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
