{"id":2468,"date":"2019-11-02T12:39:01","date_gmt":"2019-11-02T07:09:01","guid":{"rendered":"https:\/\/aktassociates.com\/blog\/?p=2468"},"modified":"2019-11-02T12:39:01","modified_gmt":"2019-11-02T07:09:01","slug":"restriction-of-input-tax-credit-under-gst-to-20","status":"publish","type":"post","link":"https:\/\/aktassociates.com\/blog\/restriction-of-input-tax-credit-under-gst-to-20\/","title":{"rendered":"Restriction of Input Tax Credit under GST to 20%\u00a0"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">The Government has come with a new notification restricting the quantum of availing the Input Tax Credit in respect of supplies for which supplier has not uploaded the invoices or debit notes on the GST Portal. Read this article for a brief understanding of such a restriction of ITC.<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-2471 size-full\" src=\"https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2019\/11\/Restriction-of-Input-Tax-Credit-under-GST-to-20.png\" alt=\"Restriction of Input Tax Credit under GST to 20%\" width=\"700\" height=\"400\" srcset=\"https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2019\/11\/Restriction-of-Input-Tax-Credit-under-GST-to-20.png 700w, https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2019\/11\/Restriction-of-Input-Tax-Credit-under-GST-to-20-300x171.png 300w, https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2019\/11\/Restriction-of-Input-Tax-Credit-under-GST-to-20-20x11.png 20w\" sizes=\"(max-width: 700px) 100vw, 700px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">CBIC has released a new notification no.<\/span> <span style=\"font-weight: 400;\">49\/2019 dated 9<\/span><span style=\"font-weight: 400;\">th<\/span><span style=\"font-weight: 400;\"> October 2019 inserting a new sub-rule 4 in rule 36 under Central <a href=\"https:\/\/aktassociates.com\/blog\/goods-service-tax-gst\/\">Goods and Services Tax<\/a> (Sixth Amendment) Rules, 2019 by amending the Central Goods and Services Tax Rules, 2017.\u00a0<\/span><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_66_1 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >In this article, we will discuss about...<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #1e73be;color:#1e73be\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #1e73be;color:#1e73be\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/aktassociates.com\/blog\/restriction-of-input-tax-credit-under-gst-to-20\/#Rule_364\" title=\"Rule 36(4)\">Rule 36(4)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/aktassociates.com\/blog\/restriction-of-input-tax-credit-under-gst-to-20\/#Rule_364_in_Brief\" title=\"Rule 36(4) in Brief\">Rule 36(4) in Brief<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/aktassociates.com\/blog\/restriction-of-input-tax-credit-under-gst-to-20\/#Understanding_Rule_364_through_Examples\" title=\"Understanding Rule 36(4) through Examples\">Understanding Rule 36(4) through Examples<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/aktassociates.com\/blog\/restriction-of-input-tax-credit-under-gst-to-20\/#Impact_and_Deficiencies_in_Rule_364\" title=\"Impact and Deficiencies in Rule 36(4)\">Impact and Deficiencies in Rule 36(4)<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Rule_364\"><\/span><strong>Rule 36(4)<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">As per Rule 36(4) the registered person should not avail Input tax credit (ITC) in respect of invoices or debit notes, the details of which have not been uploaded by the suppliers under sub-section (1) of section 37, exceeding 20 per cent of the eligible credit available in respect of invoices or debit notes the details of which have been uploaded by the suppliers under sub-section (1) of section 37.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Rule_364_in_Brief\"><\/span><strong>Rule 36(4) in Brief<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Prior to the amendment, the Input Tax Credit (ITC) has been calculated without any restrictions based on the taxes paid to the government in respect of the purchases of Goods or Services or both after excluding the blocked credit irrespective of the fact of whether the supplier has uploaded the details of Invoices or debit notes or not.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Now as per the notification, the government has put a restriction to claim only 20% of <a href=\"https:\/\/aktassociates.com\/blog\/input-tax-credit-itc\/\">Input Tax Credit (ITC)<\/a> of eligible credit available to the taxpayer in respect of the Input Tax Credit of the invoices or debit notes for which the details have not been uploaded.<\/span><\/p>\n<p><span style=\"font-weight: 400;\"><strong>Note:<\/strong> The Aforesaid restriction shall not be applicable to the cases where Input credit is availed in respect of the GST paid under Reverse Charge Mechanism.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Understanding_Rule_364_through_Examples\"><\/span><strong>Understanding Rule 36(4) through Examples<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><strong>Example:<\/strong><\/p>\n<table>\n<tbody>\n<tr>\n<td><b>Particulars<\/b><\/td>\n<td><b>Amount<\/b><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Input Tax Credit Available in the Books of Accounts in respect of the registered supplies (a)<\/span><\/td>\n<td><span style=\"font-weight: 400;\">100<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Input Tax Credit Available in the portal in respect of such registered supplies (b)<\/span><\/td>\n<td><span style=\"font-weight: 400;\">60<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Amount of Input Tax Credit that can be availed by the Taxpayer is {(b)+(b)*20%} i.e., {60+(60*20%)}<\/span><\/td>\n<td><span style=\"font-weight: 400;\">72<\/span><\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\"><span style=\"font-weight: 400;\">Note: The Balance of Input Tax Credit i.e., Rs.28\/-(100-72) shall be availed only when the supplier has uploaded the invoices on the <a href=\"https:\/\/aktassociates.com\/blog\/gst-identification-number\/\">GSTN<\/a> portal or as a portion of the 20% limit of subsequent months.<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><a href=\"https:\/\/aktassociates.com\/business-registrations\/tax-registration\/online-gst-registration\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-2070 size-full\" src=\"https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2019\/09\/gst-registration-1.png\" alt=\"gst registration\" width=\"700\" height=\"150\" srcset=\"https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2019\/09\/gst-registration-1.png 700w, https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2019\/09\/gst-registration-1-300x64.png 300w, https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2019\/09\/gst-registration-1-20x4.png 20w\" sizes=\"(max-width: 700px) 100vw, 700px\" \/><\/a><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Impact_and_Deficiencies_in_Rule_364\"><\/span><strong>Impact and Deficiencies in Rule 36(4)<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The taxpayer has to follow their vendors on a regular basis to upload their invoices so as to take the entire Input Tax Credit without any restrictions.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">It has increased the compliance burden- as the taxpayer has to reconcile the Input Tax Credit with the GST portal on a regular basis.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">This may result in an increase in cash outflow towards the GST Payment.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Lack of clarity on the computation period for which such a 20% limit has to be calculated.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Lack of clarity on the date from which the Rule 36(4) has to have complied.<\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>The Government has come with a new notification restricting the quantum of availing the Input Tax Credit in respect of &#8230; <\/p>\n<p class=\"read-more-container\"><a title=\"Restriction of Input Tax Credit under GST to 20%\u00a0\" class=\"read-more button\" href=\"https:\/\/aktassociates.com\/blog\/restriction-of-input-tax-credit-under-gst-to-20\/#more-2468\">Read more<span class=\"screen-reader-text\">Restriction of Input Tax Credit under GST to 20%\u00a0<\/span><\/a><\/p>\n","protected":false},"author":4,"featured_media":2472,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ 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