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Restriction in availment of input tax credit in terms of sub-rule (4) of rule 36 of KGST Rules. 2017 - GST - States - GST-28/2019-20

Extract

..... ded by the suppliers under sub-section (1) of section 37 of the Karnataka Goods and Services Tax Act, 2017 (hereinafter referred to as the KGST Act). 2. To ensure uniformity in the implementation of the provisions of the law across the field formations, in exercise of powers conferred under section 168(1) of the KGST Act, various issues are hereby clarified in succeeding paragraphs. 3. The conditions and eligibility for the ITC that may be availed by the recipient shall continue to be governed as per the provisions of Chapter V of the KGST Act and the rules made thereunder. This being a new provision, the restriction is not imposed through the common portal and it is the responsibility of the taxpayer that credit is availed in terms of the .....

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Restriction in availment of input tax credit in terms of sub-rule (4) of rule 36 of KGST Rules. 2017 - GST - States

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..... C. Accordingly, those invoices on which ITC is not available under any of the provision (say under sub-section (5) of section 17) would not be considered for calculating 20 per cent. of the eligible credit available. 3. FORM GSTR-2A being a dynamic document, what would be the amount of input tax credit that is admissible to the taxpayers for a particular tax period in respect of invoices / debit notes whose details have not been uploaded by the suppliers? The amount of input tax credit in respect of the invoices / debit notes whose details have not been uploaded by the suppliers shall not exceed 20% of the eligible input tax credit available to the recipient in respect of invoices or debit notes the details of which have been uploaded by th .....

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Restriction in availment of input tax credit in terms of sub-rule (4) of rule 36 of KGST Rules. 2017 - GST - States

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..... filed by 20th Nov. Case 1 Suppliers have furnished in FORM GSTR-1 80 invoices involving ITC of ₹ 6 lakhs as on the due date of furnishing of the details of outward supplies by the suppliers. ₹ 1,20,000/- ₹ 6,00,000 (i.e. amount of eligible ITC available, as per details uploaded by the suppliers) + ₹ 1,20,000 (i.e. 20% of amount of eligible ITC available, as per details uploaded by the suppliers) = ₹ 7,20,000/- Case 2 Suppliers have furnished in FORM GSTR-1 80 invoices involving ITC of ₹ 7 lakhs as on the due date of furnishing of the details of outward supplies by the suppliers. ₹ 1,40,000/- ₹ 7,00,000 + ₹ 1,40,000 = ₹ 8,40,000/- Case 3 Suppliers have furnished in FORM GSTR-1 75 in .....

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Restriction in availment of input tax credit in terms of sub-rule (4) of rule 36 of KGST Rules. 2017 - GST - States

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