Eye Share: Restrictions on ITC vide newly introduced Rule 86B - An analysis

Dec 23,2020

As per recent CBIC Notification No. 94/2020- Central Tax dated December 22, 2020, Rule 86B has been introduced which has imposed 99% restriction on ITC available in electronic credit ledger (ECL) of Registered Person (RP) if value of supply (other than exempt supply and zero-rated supply), in a month exceeds Rs. 50 lakhs.In the above context, CA Naveen Kumar Dhandaria in this analytical write-up, infers that “this means 1% of Output liability t...


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