ITC under Rule 36(4) reduced to 10% ?

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Accountant
193 Points Posted on 19 December 2019

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.

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On 19 December 2019 at 11:58 Report
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GST Practitioner
29904 Points Posted on 20 December 2019
No..... it's the recommendation .

It will be going to implement only when notify by council by issuing the Notification.

So it's not effective as of Today
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On 20 December 2019 at 00:08
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Accountant
193 Points Posted on 20 December 2019

Thanks.

Yes, we did our ITC working for GSTR-3B based on 20% rule. Good that we don't have to rework.

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On 20 December 2019 at 14:57
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GST Practitioner
29904 Points Posted on 21 December 2019
Yes ....... it is found to be difficult to work once & rework...ooooh twice ..
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On 21 December 2019 at 19:58

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