input tax credit

Interest on ITC Availed but not utilized under GST

Goods and Services Tax - Across the country objections have raised by the GST Department on erroneously availed but not utilized ITC. In this article we will discuss on such objections and the legal provisions in this regard. First as per Sec 50(3) read with sec 42(10) of CGST Act, payment of interest is only triggered where there is a […]...

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Availability of Input Tax Credit in Special Circumstances under GST

Goods and Services Tax - As per Section 18 of CGST Act, there are possibilities and conditions for the availability of input tax credit in special circumstances as below: (a) Availability of Input tax credit in case of Compulsory Registration When a person becomes liable to registration and he has applied for registration within 30 days from the date he […...

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Format of Letter of undertaking to claim ITC under GST

Goods and Services Tax - Author compiled Format of Letter of undertaking or Indemnity Bond to claim Input Tax Credit (ITC) under GST. Section 16 of CGST Act, 2017 states Conditions and eligibility for availing Input Tax Credit: As per the provisions, Registered person shall be entitled to avail the ITC on satisfying below mentioned conditions #1 He is in [&hellip...

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List of Goods and Services not eligible for Input Tax Credit under GST

Goods and Services Tax - According to Section 17, the input tax credit is available only to the extent of the goods or services used for the business purpose or effecting taxable supplies including zero rated supplies as discussed earlier in Rule 42 & 43. Apart from the above, there are goods and services which are not eligible for input […]...

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Credit on Capital goods not allowed when you claim ITC through RFD 01

Goods and Services Tax - Ideally we don’t understand this logic wherein law maker one case allow it if it is paid by way of IGST on export of goods however the same ITC on capital goods claim through RFD 01 then it is disallowed....

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Rajasthan HC admit writ challenging Rule 89(5) of CGST Rules, 2017

Goods and Services Tax - By way of this Writ Petition the petitioner has challenged the provision of Rule 89(5) of the CGST Rules, 2017 by way of which computation mechanism of the Input Tax Credit to be refunded in case of inverted duty structure has been modified to exclude Input Services from the definition of Net ITC with retrospective effect thereby denying ...

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Last date to avail Input Tax Credit pertaining to July 2017 to March 2018

Goods and Services Tax - Last date to avail Input Tax Credit in respect of invoices or Debit Notes relating to such invoices pertaining to period from July, 2017 to March, 2018. There appears to be misgiving about the last date for taking Input Tax Credit (ITC) in relation to invoices or debit notes relating to such invoices pertaining to period […]...

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Permit availment of GST input tax credit of FY 2017-18 till 31.12.2018: ICAI

Goods and Services Tax - ICAI Requesed Government for permitting availment of input tax credit under GST pertaining to Financial Year 2017-18 till 31st December, 2018...

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Quick Review on 28th GST Council meeting updates

Goods and Services Tax - Quick note on 28th GST Council meeting, which has reviewed around 46 proposed amendments in GST Act 2017 and recommended the following amendments ;...

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Draft GST Input Tax Credit (ITC) Rules as Released on 31.03.2017

Goods and Services Tax - Input Tax Credit 1. Documentary requirements and conditions for claiming input tax credit (1) The input tax credit shall be availed by a registered person, including the Input Service Distributor, on the basis of any of the following documents, namely:- (a) an invoice issued by the supplier of goods or services or both in accordance [&hel...

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AAR cannot decide eligibility to claim Transitional Input Tax credit

In re NSL Mining Resources India Private Limited (GST AAR Andhra Pradesh) - In re NSL Mining Resources India Private Limited (GST AAR Andhra Pradesh)  1) Whether Excise duty , CVD and SAD paid on Capital Goods purchased prior to July 1st July 2017 on which CENVAT credit has not been claimed earlier, can be claimed U/s 140(2) of the CGST Act, 2017 in the absence of registra...

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Full ITC eligible on Road Construction Services which is liable to tax: AAR

In re Nagaur Mukandgarh Highways Pvt. Ltd. (GST AAR Rajasthan) - In re Nagaur Mukandgarh Highways Pvt. Ltd. (GST AAR Rajasthan) 1. The applicant is rendering taxable services during the construction, of roads which is liable to tax; hence they are entitled to claim full ITC under.the provisions of section 16(1) of the CGST Act. 2017. 2. The Applicant is entitled ...

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Input Tax Credit on brokerage services against Renting of immovable property

In re Adwitya Spaces Private Limited (AAR Tamil Nadu) - In re Adwitya Spaces Private Limited (GST AAR Tamil Nadu) Whether eligible to take Input Tax Credit of the CGST & SGST charged by Catalyst Consulting Chennai in respect of brokerage services and adjust the same against output tax payable against Renting of immovable property? In the subject case...

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HC rejects bail application in fraudulent availment of ITC case

Ranjeet @ Ranjeet Singh Vs Union of India (Allahabad High Court) - Ranjeet @ Ranjeet Singh Vs Union of India (Allahabad High Court) Supplementary counter affidavit filed by the learned counsel for the complainant today in the Court is taken on record. Heard Sri Satya Dheer Singh Jadaun, learned counsel for the applicant and Sri B.K.Singh Raghuvanshi, learned couns...

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Transitional GST Input Credit cannot be denied on Procedural Grounds

Tara Exports Vs The Union of India, (Madras High Court) - In view of the GST regime and the IT platform being new, it may not be justifiable to expect the users to back up digital evidences. Even under the old taxation laws, it is a settled legal position that substantive input credits cannot be denied or altered on account of procedural grounds....

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When ITC has to be blocked/unblocked from Electronic credit ledger

Memo No. 3555/GST-2 - (30/10/2018) - The functionality of blocking and unblocking Input Tax Credit is an important tool for safeguarding the Government revenue particularly in cases of fraudulent activities by the taxpayers. So the jurisdictional officers are hereby directed to use this functionality for blocking/unblocking Input Tax C...

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Facility to upload Ledger Confirmation directly on mahagst.gov.in

Trade Circular No: 24 T of 2018 - (21/09/2018) - The Input Tax Credit (ITC) claimed by the dealers is cross verified from matching of electronic Sales (Annex J 1) and Purchases (Annex J 2) annexures filed with the Audit Reports in Form 704 and the electronic returns is considered for allowance of ITC. ...

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Union Territory Goods and Services Tax (Amendment) Act, 2018

No. 33 OF 2018 - (30/08/2018) - Govt notifies Union Territory Goods and Services Tax (Amendment) Act, 2018 on 30th August, 2018 by which it amended section 7  and 9 of Union Territory Goods and Services Tax Act, 2017 and inserted new sections 9A and 9B. MINISTRY OF LAW AND JUSTICE (Legislative Department) New Delhi, the 30th Augu...

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Central Goods and Services Tax (Amendment) Act, 2018

No. 31 OF 2018 - (30/08/2018) - Govt notifies Central Goods and Services Tax (Amendment) Act, 2018 to notify amendments in Central Goods and Services Tax Act, 2017. ...

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Much needed clarification on Removal of restriction of refund of accumulated ITC on fabrics

Circular No.56/30/2018-GST - (24/08/2018) - In the 28th GST Council meeting, it was decided to remove the restriction of not allowing refund of ITC accumulated on account of inverted duty structure on fabrics with prospective effect on the input supplies received after the date of issue of notification....

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Recent Posts in "input tax credit"

Interest on ITC Availed but not utilized under GST

Across the country objections have raised by the GST Department on erroneously availed but not utilized ITC. In this article we will discuss on such objections and the legal provisions in this regard. First as per Sec 50(3) read with sec 42(10) of CGST Act, payment of interest is only triggered where there is a […]...

Read More

Availability of Input Tax Credit in Special Circumstances under GST

As per Section 18 of CGST Act, there are possibilities and conditions for the availability of input tax credit in special circumstances as below: (a) Availability of Input tax credit in case of Compulsory Registration When a person becomes liable to registration and he has applied for registration within 30 days from the date he […...

Read More

Format of Letter of undertaking to claim ITC under GST

Author compiled Format of Letter of undertaking or Indemnity Bond to claim Input Tax Credit (ITC) under GST. Section 16 of CGST Act, 2017 states Conditions and eligibility for availing Input Tax Credit: As per the provisions, Registered person shall be entitled to avail the ITC on satisfying below mentioned conditions #1 He is in [&hellip...

Read More

List of Goods and Services not eligible for Input Tax Credit under GST

According to Section 17, the input tax credit is available only to the extent of the goods or services used for the business purpose or effecting taxable supplies including zero rated supplies as discussed earlier in Rule 42 & 43. Apart from the above, there are goods and services which are not eligible for input […]...

Read More

Credit on Capital goods not allowed when you claim ITC through RFD 01

Ideally we don’t understand this logic wherein law maker one case allow it if it is paid by way of IGST on export of goods however the same ITC on capital goods claim through RFD 01 then it is disallowed....

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ITC eligibility on works contract and construction activities

It is important to determine whether property is movable or immovable as it is first and foremost thing which include or exclude the activity from the scope of works contract or construction activity and will have impact of ITC eligibility or otherwise. The term has not been defined in GST law....

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Input Tax Credit on Outdoor Catering Services

Section 17(5)(b)(i) of CGST Act, clearly specifies that Outdoor catering Services is not eligible for Input Tax Credit by the recipient unless and otherwise the recipient is making an outward taxable supply of the same category of goods or services (i.e.) in this Outdoor Catering Serivces , the relevant Section is appended hereunder Sect...

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Impact of GST on Free and Sample Products

In a fast growing, competitive market, one of the most effective ways to gain new customers is to give away free and sample products. Providing free or sample products is a tried and tested marketing method used by various companies in India and in this article, we review the applicability of GST on free and […]...

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FAQs on GST Registration by Input Service Distributor

A. FAQs on GST Registration by Input Service Distributor Q.1. Who are Input Service Distributors? Ans. Input Service Distributor (ISD) under GST includes ♣ an office of the supplier of goods and / or services which ♣ receives tax invoices issued by the supplier towards receipt of input services and/ or goods and ♣ issues […]...

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How to Calculate Eligible and Reverse Ineligible Input Tax Credit and on Capital Goods as per Rule 43

Subject to the provision of sub-section (3) of Section 16 of CGST Act, where the registered person claimed depreciation on tax amount charges on the cost of capital goods under Income Tax Act, 1961, he is not allowed to take the input tax credit of that tax amount. And, as per the provisions of sub-sections […]...

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