As per the 38th meeting of GST Council held yesterday (18th Dec 2019), it is recommended to reduce 20% limit on ITC under rule 36(4) to 10%.
Tomorrow is the due date for filing Nov-2019 GSTR-3B. In that return, do we have to restrict ITC as per 36(4) to 10% only?
Please advise.
Thanks.
Yes, we did our ITC working for GSTR-3B based on 20% rule. Good that we don't have to rework.
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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