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Archive: 18 November 2019

Posts in 18 November 2019

New GST Rule – ITC claim restricted to 120% of GSTR-2A

November 18, 2019 168108 Views 59 comments Print

The government has taken a pre-emptive action to curb incorrect Input Tax Credit (ITC) claims after various frauds were unearthed in the past year on claimed ITC on fake invoices, or through physically non-existent businesses. To ensure, ITC claimed is bona-fide and eligible, a new rule was inserted vide Rule 36(4) on 9th October 2019 […]

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