Timeline to claim Input Tax Credit of FY 25-26 – Part 9
ITC is not allowed on personal consumption (given in section 17(5) of the CGST Act).
Tag: Input Tax Credit
Delhi HC extends Section 14 Limitation benefit for claiming construction ITC of past period post Safari Retreats
The Hon’ble Delhi High Court in Riveria Commercial Developers Limited disposed of a batch of writ petitions challenging the constitutional validity of clauses (c) and (d) of Section 17(5) of the CGST Act”, thereby granting liberty to the Assessees to file appropriate applications before the Adjudicating Authority for availing ITC pertaining to the past peri
Timeline to claim Input Tax Credit of FY 25-26 – Part 8
Let us see the eligibility of ITC on works contract service and goods or services of both availed for the purpose of construction work
Timeline to claim Input Tax Credit of FY 25-26 – Part 7
Cost should be debited to the branch incurring that expense. It should not be debited to some other branch. Lets see an example.
Timeline to claim Input Tax Credit of FY 25-26 – Part 6
ITC on RCM invoice, ISD, rental service and other
Timeline to claim Input Tax Credit of FY 25-26 – Part 5
Let us see some scenario where Input tax credit claim need critical thinking –
Timeline to claim Input Tax Credit of FY 25-26 – Part 4
Input tax Credit (ITC) should be correctly recorded in the books of accounts. Timely recording in books is of great advantage. It helps in working capital management.
Timeline to claim Input Tax Credit of FY 25-26 – Part 3
Input Tax Credit (ITC) as a concept is easy to understand, but it pose challenges when we want to claim the credit.
Timeline to claim Input Tax Credit of FY 25-26 – Part 2
First of all the taxpayer must ascertain the eligibility of the Input Tax Credit (ITC) on his purchases, expenses and capital goods.
GST Fraud: Partner Arrested for Rs 15.78 Cr ITC Claims
GST officers have arrested a partner of a firm engaged in trading of iron and steel goods for fraudulently availing input tax credit of over Rs 15.78 crore.