1. As per sub-rule (4) inserted in rule 36 of the Central Goods and Service Tax (CGST) Rules, 2017, a taxpayer filed GSTR-3B can claim provisional Input Tax Credit (ITC) only to the extent of 5% of the eligible credit available in GSTR-2B (earlier, GSTR-2A was considered).

    As per sub-rule (4) inserted in rule 36 of the Central Goods and Service Tax (CGST) Rules, 2017, a taxpayer filed GSTR-3B can claim provisional Input Tax Credit (ITC) only to the extent of 5% of the eligible credit available in GSTR-2B (earlier, GSTR-2A was considered).

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  2. Table 4 in GSTR 9 deals with all the supplies on which the taxpayer is liable to pay GST during the financial year. Table 4B to 4E can be filled with net of credit notes, debit notes and amendments, in case there is any difficulty in reporting them separately in tables 4I, 4J 4K & 4L.

    Table 4 in GSTR 9 deals with all the supplies on which the taxpayer is liable to pay GST during the financial year. Table 4B to 4E can be filled with net of credit notes, debit notes and amendments, in case there is any difficulty in reporting them separately in tables 4I, 4J 4K & 4L.

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  3. Taxpayers should report details of nil rated and exempted outward supplies in the Section “3.1 Tax on outward supplies and the reverse charge on specified inward supplies” and the details of exempt, Nil and Non GST inward supplies in the Section “5".

    Taxpayers should report details of nil rated and exempted outward supplies in the Section “3.1 Tax on outward supplies and the reverse charge on specified inward supplies” and the details of exempt, Nil and Non GST inward supplies in the Section “5″.

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  4. Table 8A in GSTR-9 in the annual Form GSTR-9 return contains details of the total input tax credit (ITC) available during the financial year from inward supplies. Inward supplies here includes all purchases made including services received from SEZs but excludes imports and inward supplies liable toRead more

    Table 8A in GSTR-9 in the annual Form GSTR-9 return contains details of the total input tax credit (ITC) available during the financial year from inward supplies. Inward supplies here includes all purchases made including services received from SEZs but excludes imports and inward supplies liable to reverse charge.

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  5. Input Tax Credit (ITC) for the construction of an immovable property cannot be availed, except where the input service is used for further work contract services. For example, ABC Contractors are constructing an immovable property. They cannot claim any ITC on the works contract.  

    Input Tax Credit (ITC) for the construction of an immovable property cannot be availed, except where the input service is used for further work contract services. For example, ABC Contractors are constructing an immovable property. They cannot claim any ITC on the works contract.

     

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  6. To calculate the input tax credit (ITC) under GST, follow the below-mentioned steps: 1) Eligibility Criteria: Check whether you are eligible to claim Input Tax Credit (ITC). 2) Purpose of business: Determine the level of utilization in your business. 3) Output tax liability: Determine the amount ofRead more

    To calculate the input tax credit (ITC) under GST, follow the below-mentioned steps:

    1) Eligibility Criteria: Check whether you are eligible to claim Input Tax Credit (ITC).
    2) Purpose of business: Determine the level of utilization in your business.
    3) Output tax liability: Determine the amount of GST that can be claimed as an ITC for various kinds of expenses.
    4) Set off: compute utilizing the standard method.

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  7. Input tax credit (ITC) against tax paid on telephone bill charges is eligible. However, if the telephone is used partly for business and partly for personal purpose, the ITC proportionate to personal use shall be disallowed.

    Input tax credit (ITC) against tax paid on telephone bill charges is eligible. However, if the telephone is used partly for business and partly for personal purpose, the ITC proportionate to personal use shall be disallowed.

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  8. In case hotel accommodation is used for business purposes and taxable supplies, Input Tax Credit (ITC) thereon can be availed as the hotel accommodation services are nowhere listed as blocked credit.

    In case hotel accommodation is used for business purposes and taxable supplies, Input Tax Credit (ITC) thereon can be availed as the hotel accommodation services are nowhere listed as blocked credit.

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