The Central Board of Indirect Taxes and Customs ( CBIC ) on December 26th, 2019 by virtue of Notification Number 75/2019 notified the CGST rule (Ninth Amendment), 2019 concerning the denial of credit.

The eligible credit in case the invoices or debit notes are not reflected in filings has been reduced to from 20% to 10% under Rule 36 of the CGST Rule, 2017.

The 38th meeting of the GST Council met under the Chairmanship of the Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman had proposed Form GSTR-2A shall be restricted to 10% instead of 20% of the eligible Input Tax Credit.

3,224 total views, 6 views today

Print Friendly, PDF & Email
Please share- Sharing is caring.