2019 (4) TMI 305

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....ll be filed before the Tamil Nadu State Appellate Authority for Advance Ruling, Chennai under Sub-section (1) of Section 100 of CGST ACT/TNGST Act 2017 within 30 days from the date on which the ruling sought to be appealed against is communicated. At the outset, we would like to make it clear that the provisions of both the Central Goods and Service Tax Act and the Tamil Nadu Goods and Service Ta....

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....as sought Advance Ruling on: i. Whether it is admissible to take input tax credit in respect of an input (invoice) at any time within the limitation prescribed under Section 16(4) i.e., before the due date of furnishing of return under Section 39 of the TNSGST/CGST Act, for the month September following the end of the financial year to which such return relates or furnishing annual return whichev....

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....rates are at 12%. Due, to the above inverted duty structure, wherein the tax paid on inputs is higher than the tax paid on the output, there is an accumulation of excess credit. Prior to the introduction of Goods and services Tax, under the erstwhile VAT regime too, the tax structure was inverted resulting in an accumulation of credit. They have submitted that the input tax credit (ITC) availed by....

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.... had accumulated under the pre GST regime to discharge the taxes that are due under GST. On exhausting the ITC accumulated under the earlier regime, the ITC shall be taken under the GST Act within the time limit prescribed under Section 16(4) of the GST act also to lodge a claim for refund wherever it is permissible. 2.3 In light of the above, the applicant has sought advance ruling to clarify th....