Notice: Trying to access array offset on value of type null in /var/www/progressus/wp-content/themes/oule/theme-layouts/post/content-single.php on line 6
As per Section 16(4) of the CGST Act, 2017 any of the registered persons filing their GSTR-3B return in respect of the last two financial years (July 2017-March 2018 and 2018-19) after 30.04.2019 and 20.10.2019 respectively,
could not have availed any credit on invoices or a debit note pertaining to the relevant financial year except in respect of IGST paid on import of goods by such registered persons.
Accordingly, any credit availed in violation of provisions of Section 16(4) is inadmissible.
According one need to reverse the credit taken after these dates and pay the demand along with interest accordingly .
Recovery proceeding can be iniated by the department ,in case demand is not paid through DRC – 03 .
Tags:
