2024-VIL-828-KAR
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SGST High Court Cases

GST – Input Tax Credit under Section 16(4) of the CGST Act, 2017 - Demand of input tax credit along with interest and penalty – Denial of ITC for the period July 2017 to March 2023 on the ground of delay in taking the credit beyond the stipulated period under Section 16(4) of the CGST Act, 2017 - Whether the petitioner is entitled to the claimed ITC, despite the alleged delay in availing the credit, in view of the subsequent clarification issued by the Circular No. 211/5/2024-GST dated 26.06.2024 - HELD - The CBIC Circular No. 211/5/2024-GST dated 26.06.2024 has clarified that in cases of supplies received from unregistered suppliers, where tax has to be paid by the recipient under the reverse charge mechanism and where the invoice is to be issued by the recipient of the supplies under Section 31(3)(f) of the CGST Act, the relevant financial year for the calculation of the time limit for the availment of ITC under Section 16(4) of the CGST Act will be the financial year in which the invoice has been issued by the recipient – the said circular supports the claim of the petitioner and is binding on the Respondents - the petitioner would be entitled to availment of ITC and cannot be deprived of the same or fastened with liability to pay interest on account of the ITC claim having been filed belatedly - Respondents to consider the objections to be filed by the Petitioner and proceed further in accordance with law, bearing in mind the CBIC Circular No. 211/5/2024-GST dated 26.06.2024 - petition stands disposed of
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