⭐ Important points (exam-critical)
- ⭐Sec 16(2)(aa): ITC restricted to invoices reflected in GSTR-2B (auto-populated).
- ⭐Capital goods ITC apportioned over 60 months (5 years) under Rule 43.
- ⭐ISD (Input Service Distributor): mechanism for HO to allocate ITC to branches.
- ⭐Sec 16(4) — wide-ranging time-bar restriction; recent amendment from 30 Nov for FY 2017-18 to 2020-21.
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