High Court rules Section 16(4) of GST Act should apply retrospectively from July 2017, ensuring taxpayers’ rights to claim ITC aren’t defeated by procedural lapses.
GST rule 86B, 99% ITC restricted, 1% of Output liability to be paid in cash As per GST Notification number 94/2020-Central Tax dated 22nd Dec 2020, GST rule 86B has been introduced which has imposed 99% restricted on ITC (Input Tax Credit) available in electronic credit ledger of Registered Person. This means 1% of Output […]
