Input Tax Credit (ITC) - Condition of actual payment within ...

GST

July 14, 2023

Input Tax Credit (ITC) - Condition of actual payment within stipulated time period - Section 16(4) of CGST Act, 2017 - net off of receivables of one GSTIN by another GSTIN of the same company, or net-off of receivables with payables of supplier of goods/ service - net off of receivables with payables of supplier of goods/service is a valid mode of payment of consideration for the receipt of goods and / or services and it satisfies the requirement of the second proviso to sub-section (2) of Section 16 of the CGST Act, 2017. - AAR

View Source

← Previous Next →

Input Tax Credit (ITC) - Condition of actual payment within ...

GST

July 14, 2023

You may also like:

Input Tax Credit (ITC) - Constitutional Validity of Section 16(4) of the APGST Act and CGST Act, 2017 - imposition of time limit for claiming Input Tax Credit (ITC) - It...

Input Tax Credit (ITC) - Period of limitation u/s 16(4) - After the decision of Supreme Court in the case of Northern Opertaing Systems, the Petitioner discharged IGST...

Cenvat credit - Once the credit is availed, the use of such credit is governed by Rule 3 of the Cenvat Credit Rules, 2004. Sub-Rule (4) of the said Rule stipulates that...

Utilisation of Input Tax Credit - outward supply of Gold & Silver bullion - The applicant/appellant can use the Input Tax Credit Balance available in its Electronic...

Filing of Form GST TRAN-1 - time limit for filing of the form - The time limit stipulated under Rule 117 of the Rules is not ultra vires of the Act. This Rule is...

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...

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....

Input tax credit (ITC) - Demo vehicle purchased - There is clear provision in law for admissibility of Input tax credit on motor vehicles in any of' the three conditions...

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 - 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...

Refund - Zero rated supplies - Computation of Turnover - sale of duty credit e-Scrips - Rule 42, Rule 89(4) and Rule 89(4B) of the CGST Act - The relevancy of the...

Cenvat Credit - pre-mature credit on input services - credit availed before making payment - Scope of Rule 4(7) of Cenvat Credit Rules, 2004 - credit cannot be denied - AT

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,...

Validity of GST registration certificate granted w.e.f 1.6.2018 instead of with retrospective effect i.e. 1.7.2017 - Whereas GST liability confirmed w.e.f. 1.7.2017 -...

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

Quick Updates: