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GST NOTIFICATION 49/2019

P MURUGAN (ACCOUNTANT) (186 Points)

16 October 2019

When it has came in to effect about Notification no 49/2019 in the subject of RESTRICTION ON availment of ITC, whether it was a return period of September 2019 or October 2019?

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4 Replies

MY Indians Tv (292 Points)
Replied 16 October 2019

CBIC restricts ITC to 20% in case of difference with details uploaded by suppliers in GSTR-1 and it further notifies that GSTR 3B is a return under section 39 with retrospective effect from 01-07-2017

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Pankaj Rawat (GST Practitioner) (55052 Points)
Replied 17 October 2019

Effective from 9/10/2019

subhagan sreerangam (7054 Points)
Replied 17 October 2019

Effective from 01-07-2017 or 09-10-2019?.

Surjeet Negi (947 Points)
Replied 02 November 2019

There is no clarity in this regard. However, the same may be effective from next return. CBIC yet to provide clarity on the same and a circular providing clarification is awaited in this respect.