Time Limit For Availing Transitional Input Tax Credit Under GST Mandatory : Madras HC [Read Judgment]

The Madras High Court has ruled that the time limit for availing Transitional Input Tax Credit is mandatory in nature, not directory. Section 140 of the CGST Act prescribes that, the registered person is required to submit a return, within such time, and in such manner as may be prescribed for purposes of availing Transitional ITC. ", the Apex Court observed in Jayam Rule 117 is Intra Vires The court observed that the impugned Rule 117 is in no way stand ultra vires to Section 140 of the CGST Act. Under Section 164 of the CGST Act the government enjoys the power to make rules to give effect to the provisions of the Act "As regards the contention that Rule 117 is ultra vires Section 140 of the CGST Act, on examining Rule 117 of the CGST Rules and Section 140 of the CGST Act, we find that Section 140 stipulates that a registered person making a claim for input tax credit should furnish a return, within such time, and in such manner as may be prescribed.