First: – Section 16(2)(aa) notified from 1 Jan 2022
(aa) the details of the invoice or debit note referred to in clause (a) have been furnished by the supplier in the statement of outward supplies and such details have been communicated to the recipient of such invoice or debit note in the manner specified under section 37.
It means from 1 Jan 2022 Input available only as when as come in GSTR-2B
Effects of New Sub-clause 16(2)(aa)
• ITC cannot be availed beyond GSTR-2B.
• No concept of Provisional Credit.
• If GSTR-1 is filled by the supplier beyond the cutoff date, then ITC will not be available in the same month.
In simple language, we can claim only that amount of ITC in GST Returns, which is reflected in GSTR-2B.
Category: Latest GST Updates
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