The 53rd GST Council met under the Chairpersonship of Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman in New Delhi today i.e. June 22, 2024.
The Council recommended amendment in section 140(7) of CGST Act retrospectively w.e.f. 01.07.2017 to provide for transitional credit in respect of invoices pertaining to services provided before the appointed date and where invoices were received by Input Service Distributor (ISD) before the appointed date.
The Press Release can be accessed at: https://a2z-bucket.s3.ap-south-1.amazonaws.com/PIB2027982.pdf