Notification No. 20/2018
Date: July 26, 2017
Subject: Restriction and lapse of accumulated input tax credit under inverted duty structure.
Description:
This notification amends Notification No. 5/2017–Central Tax (Rate) to provide that accumulated ITC on specified goods received on or after 1 August 2018 shall not be eligible for refund and that unutilised ITC accumulated up to July 2018 shall lapse. The amendment curtails refund claims in notified cases.
Issued for earlier notification?
Yes — amends Notification No. 5/2017–Central Tax (Rate).
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