https://www.taxtmi.com/notifications?id=132148 The amendment reduces the mandatory input tax credit reversal under rule 36 from 20 per cent to 10 per cent and inserts rule 86A authorising the Commissioner or an authorised officer to withhold debits from the electronic credit ledger where there are recorded reasons to believe credit was fraudulently availed or is ineligible, including claims based on invoices from non existent registrants, without receipt of goods or services, where tax on the supply was not paid, or absent prescribed documents; the restriction may be lifted when conditions cease to exist and ends after the prescribed restriction period. Rule 138E is also expanded to permit action where outward supply statements are not furnished for two tax periods. en-us Tue, 21 Jan 2020 00:00:00 +0530 Wed, 19 Feb 2020 17:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/notifications?id=132148 The amendment reduces the mandatory input tax credit reversal under rule 36 from 20 per cent to 10 per cent and inserts rule 86A authorising the Commissioner or an authorised officer to withhold debits from the electronic credit ledger where there are recorded reasons to believe credit was fraudulently availed or is ineligible, including claims based on invoices from non existent registrants, without receipt of goods or services, where tax on the supply was not paid, or absent prescribed documents; the restriction may be lifted when conditions cease to exist and ends after the prescribed restriction period. Rule 138E is also expanded to permit action where outward supply statements are not furnished for two tax periods. Notifications GST - States Tue, 21 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/notifications?id=132148