Registered person can not use ITC in excess of 99%
If value of taxable supply other than exempt supply and zero rated supply in a month exceeds 50 lakh rupees.
Restrictions shall not apply if-
A-Prop. or Karta or MD or any two partner or WTD paid 1 lakh rupees of more income tax in previous 2 FY.
B-If RP receive refund of more than 1 lakh rupees in previous FY on account of unutilised ITC under clause (i) of first proviso of section 54(3).
C-If RP receive refund of more than 1 lakh rupees in previous FY on account of unutilised ITC as per section 54 (3)(ii).
D-Cumulative balance of GST paid cash in current FY is already exceeds 1%.
E-If RP is-
1-Government Department
2-PSU
3-LA
4-Statutory Body
Comment: