Clarification Issued on Time Limit u/s 16(4) for Supplies Received from Unregistered Persons & Taxable Under RCM | Circular
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- Last Updated on 28 June, 2024
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Circular No.211/5/2024-GST dated June 26th, 2024
The CBIC has clarified that in case of supplies received from unregistered suppliers where tax has to be paid by the recipient under reverse charge mechanism (RCM), the relevant financial year for calculation of time limit for availment of ITC under section 16(4) of CGST Act will be the financial year in which the invoice has been issued by the recipient.
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