Summary
CBIC has issued a circular clarifying the implementation of retrospectively inserted provisions of section 16(5) and 16(6) of the CGST Act relating to availment of input tax credit in cases where ITC was denied due to time limit prescribed under section 16(4).
Official circular issued by the Central Board of Indirect Taxes and Customs (CBIC) clarifying the procedure for availing input tax credit pursuant to retrospective amendments made to section 16 of the CGST Act by the Finance (No. 2) Act, 2024.
Refer the attached PDF for complete text and clarification.