Important updates in GST

• Blocking of GST Credit and Restriction of ITC to 10% of GSTR 2A (Notification No 75/2019-Central Tax dated 26th December, 2019).

W.e.f. 1^st Jan 2020, Input tax credit to the recipient in respect of invoices or debit notes that are not reflected in his FORM GSTR-2A shall be restricted to 10 % of the eligible credit available in respect of invoices or debit notes reflected in his FORM GSTR-2A. (Earlier the said restriction was 20% of eligible Invoices).