M/S.Aonex Creation vs. The Assistant Commissioner Of GST And Central Excise
Held
The Court set aside the impugned order and directed the respondent to redo the assessment considering the newly inserted Section 16(5). The petitioner was given an opportunity to submit objections.
Facts
The petitioner challenged an assessment order disallowing Input Tax Credit (ITC) based on the time limit under Section 16(4) of the GST Act. An amendment, Section 16(5), was introduced by the Finance (No. 2) Act, 2024, which allows ITC for certain financial years if filed by November 30, 2021.
Key Issues
Whether the newly inserted Section 16(5) of the Finance (No. 2) Act, 2024, which provides for a later date for availing ITC, should be applied to the assessment of the petitioner for the period 2019-20.
Sections Cited
Section 16(4), Section 16(5)
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Before: and
The present Writ Petition is filed challenging the impugned order of assessment dated 07.12.2023 as corrected by Corrigendum-II dated 07.03.2024 for the period 2019-2020, on the premise that the Input
The judgment continues below.
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