Clarification/Press note issued by Ministry of Finance in respect of taking Input Tax Credit(ITC).
Dear all,
We are pleased to forward herewith the clarification issued by the Ministry of Finance as a press note dated 18/10/18.
The said clarification/press note has been forwarded to us by one of our industrial colleague Mr Mukesh Khetwani to enable your association SIMA to share with other industrial colleagues.
As per the clarification/Press release
“There appear to be misgivings about the last date for taking Input Tax Credit (ITC) in relation to invoice or debit notes relating to such invoice pertaining to the period from July 2017 to March 2018. Such uncertainty seems to stem from the Government’s decision to extend the last date for furnishing of details of outward supplies in FORM GSTR-1 from time to time”.
The copy of clarification/press note is attached herewith.
So all the colleague members are hereby requested to go through the clarification/Press Note and take note of the legal requirements and be compliance savvy.
Thanking you,
With regards,
For Silvassa Industries & Manufacturers Association
Narendra Trivedi
Secretary
