Circular No.ES/158/2021-22 24th September, 2021
To: Members of the Council
Sub: Clarification in respect of certain GST related issues
CBIC has issued Circular No. 160/16/2021-GST dated 20th September, 2021 clarifying certain GST related issues.
Various representations have been received from taxpayers and other stakeholders seeking clarification in respect of certain issues pertaining to GST laws.
Now, the CBIC has examined the issues and provided clarification in this regard.
This circular provides clarification on amendment brought by Finance Act, 2020, to delink the date of issuance of debit note from the date of issuance of the underlying invoice for availing ITC and requirement to carry the physical copy of tax invoice in cases where invoice has been generated in the manner prescribed under rule 48(4). It is also clarified that w.e.f. 01.01.2021, in case of debit notes, the date of issuance of debit note (not the date of underlying invoice) shall determine the relevant financial year for the purpose of section 16(4) of the CGST Act.
For detailed information, members may kindly refer to Circular No. 160/16/2021-GST dated 20th September, 2021.