Рет қаралды 7,533
In this video, we will read carefully the language of sub-section (4) of section 16 of the CGST Act drafted by the legislature to understand whether the time limit provided therein is for availment of ITC or entitlement of ITC or extinguishment of existing entitlement thereafter.
If a person satisfies all the vesting conditions provided under section 16(2) before the time limit provided under section 16(4) of the CGST Act then he will be "entitled" to "avail" such input tax credit.
00:00 Intro
01:44 Limiting New Entitlement vs Extinguishment of Existing Entitlement
05:13 Case Study [Section 16(2) and Section 16(4)]
21:10 Limitation or Prescription
23:01 What else can be the drafting
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