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Gist of GST Articles
Section 16 of Central Goods and Service Tax (“the Act”) provides for the eligibility and conditions for taking Input Tax Credit (ITC). The said section provides that, subject to the conditions, every registered person shall be entitled to take credit…
The time limit to claim input tax credit of the invoices pertaining to financial year 2017-18 is 20th April, 2019. As per the provision the time limit was 20th October, 2018. But since the financial year 2017-18 is the first…
Presently, the mechanism of claiming Input Tax Credit (ITC) is a self assessment basis. That is the registered person furnishes the ITC amount in table no. 4 of FORM GSTR 3B based on his own working and claims the credit..…
As per rule 45(3) of CGST Rules, 2017, “the details of challans in respect of goods dispatched to a job worker or received from a job worker during a quarter shall be included in FORM GST ITC-04 furnished for that…
As per section 31(3)(f) of CGST Act, 2017, “a registered person who is liable to pay tax under sub-section (3) or sub-section (4) of section 9 shall issue an invoice in respect of goods or services or both received by…
A registered person is entitled to take input tax credit of any invoice or debit note pertaining to invoice of the financial year 2017-18, till the filing of return for the month of March, 2019 i.e 20.04.2019. This facility is…
GST Annual Return for the financial year 2017-18 is nearing the due date. A three months time from now to prepare the return seems not adequate looking into the number of invoices of input tax credit claimed to match with…