Subject
Clarifies the manner of utilization of input tax credit post insertion of the rule 88A of the CGST Rules
Content
Section 49 was amended and Section 49A and Section 49B were inserted vide Central Goods and Services Tax (Amendment) Act, 2018 [hereinafter referred to as the CGST (Amendment) Act]. The amended provisions came into effect from 1st February 2019. 2. Various representations have been received from the trade and industry regarding challenges being faced by taxpayers due to bringing into force o…