In-Depth Analysis of Input Tax Credit under the GST Act: Section 17 – Apportionment of Credit and Blocked Credits
Author decodes the provision u/s 17 – Apportionment of credit and blocked Credit
Tag: Blocked ITC
PPT – Understanding E-Way Bill and Ineligible ITC
Author CA Vaishali Kharde has crafted the PPT encompassing all the details on E-way bill right from the basic rules as regard when e-way bill is required to generated till the litigation and discussed the way out as well with case laws. Author also discussed in length about reversal of ITC in the PPT.
ITC is not available for the construction of the immovable property for renting it out for commercial purposes
The Tamil Nadu AAR, in the matter of Suswani Foundations (P.) Ltd., held that as per Section 17(5)(d) the CGST Act, 2017 no Input Tax Credit ITC is available in respect of any goods or services received by the Assessee for construction of immovable property on its own account even if inputs and input services are used in course and furtherance of business.
GST DAILY – 205
No ITC to be allowed on re-construction, renovation, additions, alterations or repairs which are capitalized in books
ITC is not available in relation to construction of immovable property which is further let out for commercial purpose
The Hon’ble West Bengal Appellate Authority for Advance Ruling in the case of In Re. Bathula Mahesh Babu allowed the appeal filed by the Revenue Department, thereby holding that no ITC is allowed on Input Goods or Services in relation to construction of immovable property which is further let out for commercial purposes.
Assessee eligible to claim ITC on rooftop solar system used in course or furtherance of business
The Gujarat AAR in the case of In Re: M/s. Unique Welding Products Pvt. Ltd.[GUJ/GAAR/R/2024/01 dated January 5, 2024] held that Assessee is eligible to claim Input Tax Credit (“ITC”) on rooftop solar system with installation and commissioning service used…
India Inc faces GST demand notices for claiming blocked credits
GST notices worth several crores continue to bombard the industry leaving India Inc in a tizzy as corporates have claimed credits while filing returns, which according to GST authorities have been blocked and thus cannot be claimed. According to sources,…
GST ITC available on Taxable Works Contract Services for Construction of Hotel Building
The Hon’ble Tripura High Court in M/s. SR Constructions v. The Union of India and Ors.[W.P.(C) No. 399 of 2022 dated April 4, 2023] held that the assessee is entitled to take Input Tax Credit (“ITC”) on taxable works contract…
Handbook on Blocked Credit under GST
The Institute of Chartered Accountants of India (ICAI) has published a handbook on Blocked Credit under GST. This is the First Edition published in January, 2023.
Government may restrict Input Tax Credit on CSR expenditure in the upcoming Budget 2023-24
The government is likely to introduce amendments to Goods and Services Tax (GST) law through the Finance Bill, 2023, denying businesses credit for the taxes paid while procuring goods and services that they provide to the community under their corporate…