CBIC has recently issued notification no. 49/2019-CT dated 9 October 2019,
according to which, ITC of unmatched credits, can now be availed only to the extent of 20 per cent of the eligible available credits reported in GSTR-2A.
This restriction is applicable from which period/month. Does this apply to GSTR 3B of sept 19 also?
3 Replies
Hardik
(Professional)
(918 Points)
Replied 21 October 2019
"Save as otherwise provided in these rules, they shall come into force on the date of their publication in the Official Gazette."
This means the rules are applicable from 9th October, 2019. According to me this should not be applicable to GSTR 3B of September month, since we could've filed the same before 9th October as well. For the purpose of uniformity we can presume and interpret that these amendments are applicable from 9th October onwards. i.e. we need to comply with the rules for returns pertaining to the tax period commencing from 9tn October onwards..
This means the rules are applicable from 9th October, 2019. According to me this should not be applicable to GSTR 3B of September month, since we could've filed the same before 9th October as well. For the purpose of uniformity we can presume and interpret that these amendments are applicable from 9th October onwards. i.e. we need to comply with the rules for returns pertaining to the tax period commencing from 9tn October onwards..
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