Temporal scope of input tax credit expanded to include preceding financial years and exports under amended GST rules. The notification amends an earlier Punjab GST notification to allow input tax credit for 'any preceding financial year from 2017-18 onwards' (substituting 'a financial year') and to include acquisitions 'or for exports' in addition to supplies 'to a registered person.' The amendment is issued under sub rule (4) of rule 48 and is made effective retrospectively from 30th September, 2020.
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Provisions expressly mentioned in the judgment/order text.
Temporal scope of input tax credit expanded to include preceding financial years and exports under amended GST rules.
The notification amends an earlier Punjab GST notification to allow input tax credit for "any preceding financial year from 2017-18 onwards" (substituting "a financial year") and to include acquisitions "or for exports" in addition to supplies "to a registered person." The amendment is issued under sub rule (4) of rule 48 and is made effective retrospectively from 30th September, 2020.
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