https://www.taxtmi.com/article/detailed?id=9755 The amendment delinks entitlement to Input Tax Credit on debit notes from the financial year of the original invoice, permitting claim periods based on the year the debit note is issued; however, a Gujarat AAR ruling treated the invoice year as decisive despite the amendment, raising interpretive conflict. The explanatory memorandum supports delinking for purposes of availing credit, commentators note possible retrospective-curative arguments and emphasize litigation risk given competing views about the effect of a notwithstanding clause and vested-credit jurisprudence. en-us Mon, 19 Apr 2021 20:31:36 +0530 Mon, 19 Apr 2021 20:31:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=9755 The amendment delinks entitlement to Input Tax Credit on debit notes from the financial year of the original invoice, permitting claim periods based on the year the debit note is issued; however, a Gujarat AAR ruling treated the invoice year as decisive despite the amendment, raising interpretive conflict. The explanatory memorandum supports delinking for purposes of availing credit, commentators note possible retrospective-curative arguments and emphasize litigation risk given competing views about the effect of a notwithstanding clause and vested-credit jurisprudence. Articles Goods and Services Tax - GST Mon, 19 Apr 2021 20:31:36 +0530 https://www.taxtmi.com/article/detailed?id=9755