Eye Share: ITC restriction of 20% vis-a-vis invoices not uploaded by suppliers - confusion galore

Recent CBIC Notification No. 49/2019 - Central Tax dated October 09, 2019 vide Rule 36(4) of CGST Rules, 2017, imposed a restriction on availment of ITC to the extent of 20% of eligible input invoices or debit notes against invoices not uploaded by supplier in their respective FORM GSTR-1. In this context, it may be highlighted that there exists an ambiguity as to the effective date for this provision to take effect.Mr. Arihant Sipani (Chartered Accountant...