CBIC restricts credit availment to 5%, introduces new Rule 86B, waives late-fee for Ladakh

CBIC modifies Rule 36 (4) to allow credit only upto additional 5% of amount in GSTR-2A, inserts new Rule 86B restricting use of amount available in electronic credit ledger (ECL) for discharging output tax liability to 99% if value of taxable supply (other than exempt supply and zero-rated supply) in a month exceeds Rs. 50 lakhs; Said restriction shall not apply if registered person has discharged his liability towards output tax through the elec...