input tax credit

ITC on Construction against rent received from tenants- Allowed

Goods and Services Tax - Section 17(5)(d) of CGST Act, 2017 cannot be construed in a narrow sense as to disallow credit of Input goods or services used for construction / Development of immovable property (Shopping Mall in this case) against GST payable on rent received from tenants...

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How to fill up Point No. 14 of Part IV of GSTR-9C- Reconciliation of ITC

Goods and Services Tax - Point No.14 of Part IV of GSTR-9C provides for reconciliation of ITC declared in Annual Return (GSTR-9) with ITC availed on expenses as per audited Annual Financial Statement or books of account. The total ITC availed during the year has to be bifurcated on the basis of heads like purchases, freight/carriage, power and fuel, imported [&he...

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Detailed Study of Input Tax Credit (ITC) under GST

Goods and Services Tax - Article explains Important Definitions related to Input Tax Credit  (ITC) under GST (Section 2 of CGST Act, 2017), Section -16: Conditions for availing ITC under GST, Section- 17: Reversal of Credit & Blocked Credit,  Section- 18: Availability of ITC in certain cases, Notification 8/2018 on payment of ITC of Motor cars and Opinion i...

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Practical Solution for Issues in ITC Reporting in GSTR-9

Goods and Services Tax - GST law was supposed to Simply the Indirect Tax Practice & Compliance thereof. But the same seems to be nightmare. Annual GSTR 9 format introduced by GST Authorities has lot of complications being faced by Taxpayers & Tax Professionals. Government has recently given clarification on some issues, but a lot of clarifications are sti...

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Allowability of Input Tax Credit on Building Repairs

Goods and Services Tax - The allowability of ITC of GST paid on building repairs is a matter of confusion among the various professionals and prone to litigation. The building repairs may involve the following among other things: Purchase of building materials, such as cement, concrete, bricks, cement or marble or stone slabs or tiles, paint, polish and any other...

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Fraudulent GST ITC of more than ₹ 16 Crore- DGGI arrests one person

Goods and Services Tax - The Directorate General of GST Intelligence Hqrs. arrests one person in connection with the taking by two firms ITC fraudulently to the tune of more than Rs.16 Crore....

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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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GST liability with respect to goods provided free of cost as CSR

In re M/s. Polycab Wires Pvt. Ltd. (GST AAR Kerala) - Determination of GST liability with respect to goods provided free of cost by the Distributors of M/s. Polycab Wires Private Limited to KSEB for reinstating connectivity in flood ridden areas; and admissibility of input tax credit in relation to such goods. In order to operationalize the commitment ...

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No ITC for GST paid on purchase of motor vehicles for supplying rent-a-cab service

In Re Mohana Ghosh (GST AAR West Bengal) - In Re Mohana Ghosh (GST AAR West Bengal) GST paid on purchase of motor vehicles for supplying rent-a-cab service is not admissible for credit in terms of section 17(5)(b)(i)  The applicant was supplying cabs on a rental basis. It submitted that people take the car on rent for the transportation of ...

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Input tax credit on motor vehicle purchase for supplying rent-a-cab service?

In Re Mohana Ghosh (GST AAR West Bengal) - GST paid on the purchase of motor vehicles for supplying rent-a-cab service is not admissible for credit in terms of section 17(5)(b)(i) of the GST Act....

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HC denies bail in Wrongful availment of GST input tax credit

Jagdish Kanani Vs Commissioner, CGST & CE (Madhya Pradesh HC) - U/s. 69 of the GST Act, the Commissioner is having power to arrest if he has reasons to believe that a person has committed an offence specified in Clause (a) or (b) or (c) of sub-section (1) of Section 132 of the GST Act. Section 132(1) (a), (b) and (c) of GST Act define types of offences and accor...

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ITC (GST) denial for default of supplier- Delhi HC issued notice to UOI

Bharti Telemedia Ltd. Vs. Union Of India & Ors. (Delhi High Court) - Input Tax credit (GST) Can not be denied to recipient for default on part of the supplier- Delhi High Court issued notice to UNION OF INDIA. Delhi HC issues notice in writ petition challenging Section 16(2)(c), second proviso to Section 16(2)(d) and proviso to Section 16(4) of Central Goods and Serv...

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GST on Real Estate- Exercise of Option- Date extended to 20.05.2019 (Read Notification)

Notification No. 10/2019-Central Tax (Rate) [G.S.R. 354(E).] - (10/05/2019) - The date for exercising the option for residential real estate project to either stay at old GST rate (8% or 12% with ITC) or to avail new GST rate (1% or 5% without ITC) is being extended to 20.05.2019 from 10.05.2019. Government of India Ministry of Finance (Department of Revenue) Notification No....

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All about Amendments to Maharashtra Value Added Tax Act, 2002

Trade Circular No. 16T of 2019 - (06/05/2019) - A dealer can also apply to the assessing officer in case claims against declarations or certificates were disallowed in the assessment order due to non-production of such declarations or certificates and if such declarations or certificates have now been received. [sec. 24(2)] Rectification applicat...

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CBIC clarifies manner of utilization of GST input tax credit

Circular No. 98/17/2019-GST - (23/04/2019) - CBIC clarifies the manner of utilization of input tax credit post insertion of the rule 88A of the CGST Rules vide Circular No. 98/17/2019-GST dated 23rd April 2019. Clarification in respect of utilization of ITC under GST Clarification on Section 49A and Section 49B inserted w.e.f 1st February, 201...

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CBIC amends new GST Composition Scheme rules related to ITC

Notification No. 9/2019-Central Tax (Rate) - (29/03/2019) - Notification No. 9/2019-Central Tax (Rate)- Seeks to amend notification No. 02/2019- Central Tax (Rate) so as to provide for application of Composition rules to persons opting to pay tax under notification no. 2/2019- Central Tax (Rate). Government of India Ministry of Finance (Department of Revenue...

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Transfer of input tax credit in case of death of sole proprietor

Circular No. 96/15/2019-GST - (28/03/2019) - Circular No. 96/15/2019-GST Dated 28th March, 2019 Transfer of ITC in case of death of sole proprietor Section 29(1)(a) of the CGST Act, 2019- Cancellation of registration on account of transfer of business for any reason including death of the proprietor For the purpose of sections 18(3), 22(3) an...

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Recent Posts in "input tax credit"

GST liability with respect to goods provided free of cost as CSR

In re M/s. Polycab Wires Pvt. Ltd. (GST AAR Kerala)

Determination of GST liability with respect to goods provided free of cost by the Distributors of M/s. Polycab Wires Private Limited to KSEB for reinstating connectivity in flood ridden areas; and admissibility of input tax credit in relation to such goods. In order to operationalize the commitment of the applicant to provide goods at fre...

Read More

Fraudulent GST ITC of more than ₹ 16 Crore- DGGI arrests one person

The Directorate General of GST Intelligence Hqrs. arrests one person in connection with the taking by two firms ITC fraudulently to the tune of more than Rs.16 Crore....

Read More

ITC on Construction against rent received from tenants- Allowed

M/s Safari Retreats Pvt. Ltd. & Another v. Chief Commissioner of Central Goods and Service tax

Section 17(5)(d) of CGST Act, 2017 cannot be construed in a narrow sense as to disallow credit of Input goods or services used for construction / Development of immovable property (Shopping Mall in this case) against GST payable on rent received from tenants...

Read More

How to fill up Point No. 14 of Part IV of GSTR-9C- Reconciliation of ITC

Point No.14 of Part IV of GSTR-9C provides for reconciliation of ITC declared in Annual Return (GSTR-9) with ITC availed on expenses as per audited Annual Financial Statement or books of account. The total ITC availed during the year has to be bifurcated on the basis of heads like purchases, freight/carriage, power and fuel, imported [&he...

Read More

No ITC for GST paid on purchase of motor vehicles for supplying rent-a-cab service

In Re Mohana Ghosh (GST AAR West Bengal)

In Re Mohana Ghosh (GST AAR West Bengal) GST paid on purchase of motor vehicles for supplying rent-a-cab service is not admissible for credit in terms of section 17(5)(b)(i)  The applicant was supplying cabs on a rental basis. It submitted that people take the car on rent for the transportation of passengers. Rent-a-Cab was, therefore, [...

Read More

Detailed Study of Input Tax Credit (ITC) under GST

Article explains Important Definitions related to Input Tax Credit  (ITC) under GST (Section 2 of CGST Act, 2017), Section -16: Conditions for availing ITC under GST, Section- 17: Reversal of Credit & Blocked Credit,  Section- 18: Availability of ITC in certain cases, Notification 8/2018 on payment of ITC of Motor cars and Opinion i...

Read More

Input tax credit on motor vehicle purchase for supplying rent-a-cab service?

In Re Mohana Ghosh (GST AAR West Bengal)

GST paid on the purchase of motor vehicles for supplying rent-a-cab service is not admissible for credit in terms of section 17(5)(b)(i) of the GST Act....

Read More

Practical Solution for Issues in ITC Reporting in GSTR-9

GST law was supposed to Simply the Indirect Tax Practice & Compliance thereof. But the same seems to be nightmare. Annual GSTR 9 format introduced by GST Authorities has lot of complications being faced by Taxpayers & Tax Professionals. Government has recently given clarification on some issues, but a lot of clarifications are sti...

Read More

Allowability of Input Tax Credit on Building Repairs

The allowability of ITC of GST paid on building repairs is a matter of confusion among the various professionals and prone to litigation. The building repairs may involve the following among other things: Purchase of building materials, such as cement, concrete, bricks, cement or marble or stone slabs or tiles, paint, polish and any other...

Read More

How to utilized ITC incase of Export Oriented Unit under GST Provision

Export Unit can export the goods without paying GST. Export are coming under Zero rate supply. Export oriented unit can export the goods on three basis. 1. Export on LUT 2. Export under Bond 3. Export by paying Tax. Export on LUT : LUT is referred  to Letter of Undertaking. Any Exporter Can apply for […]...

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