Input tax credit (ITC) - proportionate claim subject to the ...

GST

October 20, 2020

Input tax credit (ITC) - proportionate claim subject to the goods being capitalised in their books of account, the applicant is eligible to claim Input tax on such goods as ‘Capital Goods’ and the Provisions of Rule 43 of the GST Rules is applicable to determine the eligible credit in respect of the taxable supplies made by them. In respect of Inputs and Input services, the attributable credit is to be arrived at by applying Rule 42 of the GST Rules. - AAR

View Source

← Previous Next →

Input tax credit (ITC) - proportionate claim subject to the ...

GST

October 20, 2020

You may also like:

Utilization of input tax credit (ITC) - inward supply of said input/input service used for construction of warehouse can be claimed and utilized to pay tax on the...

Input Tax Credit - credit was not effected in Form GSTR-2A - If on examination of the evidence submitted by the assessee, the assessing officer is satisfied that the...

Reversal of Input Tax Credit - inputs consumed in dye intermediates (which is also a finished goods), where such goods have been destroyed in fire - - Since the said...

Input Tax Credit - Reversal / refunding of ITC - the Integrated Goods and Service Tax (IGST) was not paid and ‘NIL’ return had been filed by the seller but the...

Reversal of Input Tax credit / ITC - financial credit note is issued for part amount of invoice - the financial credit note shall not be used as a conduit to transfer...

Availing and utilization of Input Tax Credit - The applicant had initially opted to pay GST at a lower rate without availing full ITC on goods and services used in their...

Input tax credit of GST paid - The applicant is not eligible for availment of input tax credit of GST paid on goods and services for laying of transfer pipeline and the...

Input Tax Credit - solar power panels procured and installed - blocked credit- When Electricity energy manufactured using the Solar Panels were supplied to TANGEDCO...

Input tax credit - eligibility of benefit of input tax credit claimed after six months from the date of invoice - the Apex court has held that credit is indefeasible....

Reversal of Input Tax Credit (ITC) on furnace oil and LSHS oil - the furnace oil was used in the process of manufacturing of the final product and it has to be treated...

Input tax credit (ITC) - Air Conditioned Stage Carriage - There is no exclusion of services from other taxable persons in the same line of business from this condition,...

Entitlement to claim input tax credit - The AAR concluded that the applicant is not entitled to claim ITC for expenses incurred specifically for the restaurant service...

Input tax credit - Reversal of ITC - the applicant can avail the Input Tax Credit of the full GST charged on the invoice of the supply and no proportionate reversal of...

Input Tax Credit - Tax paid on cost proposed to be incurred - According to the provisions of Sec. 17(5) read with the explanation to it, credit of civil structure is...

Admissibility of input tax credit - inward supply of services by way of License Fee Recovery (LFR) on leasing of pumps along with the equipment - The AAR concluded that...

Quick Updates: