Emmar Project Contractors India (P) Limited Vs Asst. Commissioner of Commercial Taxes (Karnataka High Court)
Karnataka High Court held that as per section 16(5) of the CGST Act input tax credit in respect of Financial Years 2017-18, 2018-19, 2019-20 and 2020-21 available in case return u/s. 39 of the CGST Act is filed up to 30.11.2021.
Facts- The present appeal is filed against the order rejecting the claim of input credit of Rs.35,3900/- and directing to pay once again the sum of Rs.35,3900 with interest and levy of penalty on the ground the same is filed after the time limit permitted under section 16(4) of the CGST/KGST Act 2017.
Conclusion- Section 16(5) inserted into the CGST Act vide clause 118 of ‘The Finance (No.2) Act, 2024’ allows input tax credit in respect of an Invoice or Debit note for supply of goods or services or both pertaining to the financial years, 2017-18, 2018-19, 2019-20 and 2020-21 for which return under Section 39 is filed up to the thirtieth day of November, 2021.
Held that the respondents are directed to give effect to and implement the amended provisions contained in Section 118 of “The Finance (No.2) Act, 2024” relating to insertion of Section 16(5) to the CGST Act / KGST Act by providing sufficient and reasonable opportunity.
