GST department has vide Notification No. 39/2021 – Central Tax Dt. 21st December, 2021, introduced the effective date of amendment made in Section 109 of Finance Act, 2021
This amendment made by Finance Act, 2021 shall be made effective from 01.01.2022
According to above amendment one more condition has been added to section 16 of CGST act, which deals with Input tax credit whereby now only credit of those invoices shall be available which has been mentioned by supplier in its details of outward supplies in the manner mentioned in section 37 and section 37 deals with Filing of GST return i.e. GSTR 1.
Before this amendment one could take Input tax credit 5% over and above the amount mentioned in GSTR 2A if the taxpayer was in possession of invoice as mentioned in section 16 based on rule 36(4).
