Provisions under Rule 70 of the Central Goods and Services Tax (CGST) Rules, 2017 relating to “Final Acceptance of Input Tax Credit and Communication thereof”, are as under:
CGST Rule 70: Final Acceptance of Input Tax Credit and Communication thereof (Chapter-VIII: Returns)
(1) The final acceptance of claim of input tax credit in respect of any tax period, specified in sub-section (2) of section 42, shall be made available electronically to the registered person making such claim in FORM GST MIS-1 through the common portal.
(2) The claim of input tax credit in respect of any tax period which had been communicated as mismatched but is found to be matched after rectification by the supplier or recipient shall be finally accepted and made available electronically to the person making such claim in FORM GST MIS-1 through the common portal.
It may be noted that the above information is based on Updated CGST Rules 2017 (amended upto 5th May 2020), as compiled/ shared by CBIC (i.e. as notified/ amended upto 5th May 2020 by the CBIC). However, for detailed/ official information and/ or subsequent updates, please refer relevant Notifications. E&OE
Further, it may be noted that Rules 27 to 138 (pertaining to various Chapters) of the Central Goods and Services Tax (CGST) Rules, 2017 were initially notified by CBIC vide CGST (2nd Amendment) Rules, 2017 Notification No. 10/2017 Central Tax dt. 28 June 2017, applicable w.e.f. 1 July 2017 (or as may be specified in respective Rules).
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