BREAKING NEWS : ITC TO BE UTILIZED IN THE OLD MANNER (CIRCULAR ISSUED)

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Circular No. 98/17/2019 states that :

Clarification in respect of utilization of input tax credit under GST – Reg.

Presently, the common portal supports the order of utilization of input tax credit in accordance with the provisions before implementation of the provisions of the CGST (Amendment) Act i.e. pre-insertion of Section 49A and Section 49B of the CGST Act.

Therefore, till the new order of utilization as per newly inserted Rule 88A of the CGST Rules is implemented on the common portal, taxpayers may continue to utilize their input tax credit as per the functionality available on the common portal.

CLICK HERE TO READ OFFICIAL CIRCULAR NO.  98/17/2019-GST

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