Supreme Court Challenges the Time Limit on GST Input Tax Credit
On September 16, 2024, the Supreme Court issued a notice to the Revenue Department in response to petitions challenging the constitutional validity of Section 16(4) of the Central Goods and Services Tax (CGST) Act. This section limits the time for businesses to claim Input Tax Credit (ITC), and the petitioners argue that it violates their fundamental rights under the Indian Constitution. The outcome of this case is critical for businesses affected by the stringent ITC timelines, as it could reshape GST credit regulations moving forward
