The CBIC vide Guideline bearing reference No. CBEC-2016/05/2021-GST/1552 dated 02 November 2021 clarified various issues pertaining to disallowing debit of ITC from ECL u/r 86A of CGST. The guidelines have been summarized hereunder:
Total amount of ineligible credit availed |
Officer on whom power can be exercised |
Not exceeding Rupees 1 crore |
Deputy/Asst. Commissioner |
Above Rupees 1 crore but not exceeding Rs 5 crore |
Additional Commissioner/ Joint Commissioner |
Above Rs 5 crore |
Principal Commissioner/ Commissioner |
Disclaimer:
The information provided in this update is intended for informational purposes only and does not constitute legal opinion or advice. Readers are requested to seek formal legal advice prior to acting upon any of the information provided herein. This update is not intended to address the circumstances of any particular individual or corporate body. There can be no assurance that the judicial/ quasi judicial authorities may not take a position contrary to the views mentioned hereinrra quis.
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