Notification: Amendment to Input Tax Credit Provisions

Central Government, under CGST Act, 2017, amends notification No.5/2017-Union Territory Tax (Rate) dated 28th June 2017.

Proviso inserted: Input tax credit (ITC) accumulated post 1st August 2018 on specified goods shall not be covered.

ITC unutilized after July 2018 on inward supplies up to 31st July 2018 for specified goods will lapse.

Amendment aims to regulate ITC utilization and prevent accumulation beyond specified period. Issued by Gunjan Kumar Verma, Under Secretary to the Government of India. (Note: Refer to the latest notification for precise details and updates.)