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Restriction of ITC - Newly inserted Rule 36(4)

November 23, 2019[2019] 111 399 (Article)
Government has recently made rule to restrict ITC of invoice , debit notes no reflecting in GSTR 2A of receiver to 20% of eligible ITC reflecting in GSTR- 2A. This newly inserted provision along with board circular has created lot of hue and cry amongst taxpayer. Authors’ have not only discussed relating law provisions, tried to explain whole idea by way of illustration and FAQ’s , but also raised certain challenges and situation un answered by the Board.
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