Restrictions on Availment of ITC: The Saga continues
- Blog|News|GST & Customs|
- < 1 minute
- By Taxmann
- |
- Last Updated on 7 February, 2022
Latest from Taxmann
Rahul Jain & Rohan Muralidharan – [2022] 135 taxmann.com 45 (Article)
On the GST front, it was noted in the Budget Speech that GST collections for the month of January 2022 has been the highest since its inception. One of the primary reasons for the same is said to be “the right balance between facilitation and enforcement has engendered significantly better compliance.”
In furtherance of the above cause, one of the important amendments in the Finance Bill 2022 is the introduction of additional conditions and restrictions for availment of the Input Tax Credit (ITC) by way of proposed insertion of Section 16(2)(ba) read with Section 38 of the CGST Act, 2017. In this article, the authors discussed the newly proposed provision and impact of this amendment.
Click Here To Read The Full Article
Disclaimer: The content/information published on the website is only for general information of the user and shall not be construed as legal advice. While the Taxmann has exercised reasonable efforts to ensure the veracity of information/content published, Taxmann shall be under no liability in any manner whatsoever for incorrect information, if any.
Taxmann Publications has a dedicated in-house Research & Editorial Team. This team consists of a team of Chartered Accountants, Company Secretaries, and Lawyers. This team works under the guidance and supervision of editor-in-chief Mr Rakesh Bhargava.
The Research and Editorial Team is responsible for developing reliable and accurate content for the readers. The team follows the six-sigma approach to achieve the benchmark of zero error in its publications and research platforms. The team ensures that the following publication guidelines are thoroughly followed while developing the content:
- The statutory material is obtained only from the authorized and reliable sources
- All the latest developments in the judicial and legislative fields are covered
- Prepare the analytical write-ups on current, controversial, and important issues to help the readers to understand the concept and its implications
- Every content published by Taxmann is complete, accurate and lucid
- All evidence-based statements are supported with proper reference to Section, Circular No., Notification No. or citations
- The golden rules of grammar, style and consistency are thoroughly followed
- Font and size that’s easy to read and remain consistent across all imprint and digital publications are applied
Sign Up
To subscribe to our weekly newsletter please log in/register on Taxmann.com
Latest Books
Everything on Tax and Corporate Laws of India
To subscribe to our weekly newsletter please log in/register on Taxmann.com
