Page 111 - GSTL_23rd July 2020_Vol 38_Part 4

2020 ] IN RE : NAVBHARAT LPG BOTTLING COMPANY 477
(4) Input tax credit to be availed by a registered person in respect of in-
voices or debit notes, the details of which have not been uploaded by the
suppliers under sub-section (1) of section 37, shall not exceed 10 per cent. of
the eligible credit available in respect of invoices or debit notes the details
of which have been uploaded by the suppliers under sub-section (1) of sec-
tion 37 :
Provided that the said condition shall apply cumulatively for the period
February, March, April, May, June, July and August, 2020 and the return in
FORM GSTR-3B for the tax period September, 2020 shall be furnished with
the cumulative adjustment of input tax credit for the said months in ac-
cordance with the condition above.
Rule 37. Reversal of input tax credit in the case of non-payment of con-
sideration. - (1) A registered person, who has availed of input tax credit
on any inward supply of goods or services or both, but fails to pay to the
supplier thereof, the value of such supply along with the tax payable there-
on, within the time limit specified in the second proviso to sub-section (2) of
section 16, shall furnish the details of such supply, the amount of value not
paid and the amount of input tax credit availed of proportionate to such
amount not paid to the supplier in FORM GSTR-2 for the month immedi-
ately following the period of one hundred and eighty days from the date of
the issue of the invoice :
Provided that the value of supplies made without consideration as speci-
fied in Schedule I of the said Act shall be deemed to have been paid for the
purposes of the second proviso to sub-section (2) of section 16.
Provided further that the value of supplies on account of any amount add-
ed in accordance with the provisions of clause (b) of sub-section (2) of sec-
tion 15 shall be deemed to have been paid for the purposes of the second
proviso to sub-section (2) of section 16.
(2) The amount of input tax credit referred to in sub-rule (1) shall be add-
ed to the output tax liability of the registered person for the month in which
the details are furnished.
(3) The registered person shall be liable to pay interest at the rate notified
under sub-section (1) of section 50 for the period starting from the date of
availing credit on such supplies till the date when the amount added to the
output tax liability, as mentioned in sub-rule (2), is paid.
(4) The time limit specified in sub-section (4) of section 16 shall not apply
to a claim for reavailing of any credit, in accordance with the provisions of
the Act or the provisions of this Chapter, that had been reversed earlier.
Rule 40. Manner of claiming credit in special circumstances. - (1) The
input tax credit claimed in accordance with the provisions of sub-section (1)
of section 18 on the inputs held in stock or inputs contained in semi-
finished or finished goods held in stock, or the credit claimed on capital
goods in accordance with the provisions of clauses (c) and (d) of the said
sub-section, shall be subject to the following conditions, namely, -
(a) the input tax credit on capital goods, in terms of clauses (c)
and (d) of sub-section (1) of section 18, shall be claimed after
reducing the tax paid on such capital goods by five percentage
points per quarter of a year or part thereof from the date of the
invoice or such other documents on which the capital goods
were received by the taxable person.

GST LAW TIMES  23rd July 2020  111