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Home Acts & Rules GST Acts CENTRAL GOODS AND SERVICES TAX ACT, 2017 Chapters List Chapter V INPUT TAX CREDIT This
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Section 17 - Apportionment of credit and blocked credits. - CENTRAL GOODS AND SERVICES TAX ACT, 2017

Extract

..... xempt supply under sub-section (2) shall be such as may be prescribed, and shall include supplies on which the recipient is liable to pay tax on reverse charge basis, transactions in securities, sale of land and, subject to clause (b) of paragraph 5 of Schedule II, sale of building. 1[Explanation.-For the purposes of this sub-section, the expression ‘‘value of exempt supply’’ shall not include the value of activities or transactions specified in Schedule III, except those specified in paragraph 5 of the said Schedule.] (4) A banking company or a financial institution including a non-banking financial company, engaged in supplying services by way of accepting deposits, extending loans or advances shall have the option .....

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Section 17 - Apportionment of credit and blocked credits. - CENTRAL GOODS AND SERVICES TAX ACT, 2017

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..... far as they relate to motor vehicles, vessels or aircraft referred to in clause (a) or clause (aa): Provided that the input tax credit in respect of such services shall be available- (i) where the motor vehicles, vessels or aircraft referred to in clause (a) or clause (aa) are used for the purposes specified therein; (ii) where received by a taxable person engaged- (I) in the manufacture of such motor vehicles, vessels or aircraft; or (II) in the supply of general insurance services in respect of such motor vehicles, vessels or aircraft insured by him; (b) the following supply of goods or services or both- (i) food and beverages, outdoor catering, beauty treatment, health services, cosmetic and plastic surgery, leasing, renting or hiring o .....

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Section 17 - Apportionment of credit and blocked credits. - CENTRAL GOODS AND SERVICES TAX ACT, 2017

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..... extent of capitalisation, to the said immovable property; (e) goods or services or both on which tax has been paid under section 10; (f) goods or services or both received by a non-resident taxable person except on goods imported by him; (g) goods or services or both used for personal consumption; (h) goods lost, stolen, destroyed, written off or disposed of by way of gift or free samples; and (i) any tax paid in accordance with the provisions of sections 74, 129 and 130. (6) The Government may prescribe the manner in which the credit referred to in sub-sections (1) and (2) may be attributed. Explanation.- For the purposes of this Chapter and Chapter VI, the expression “plant and machinery” means apparatus, equipment, and machi .....

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Section 17 - Apportionment of credit and blocked credits. - CENTRAL GOODS AND SERVICES TAX ACT, 2017

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  1. INTEGRATED GOODS AND SERVICES TAX ACT, 2017
  2. Chapter VI of INTEGRATED GOODS AND SERVICES TAX ACT, 2017
  3. Chapter V of CENTRAL GOODS AND SERVICES TAX ACT, 2017
  4. Section 74 - Determination of tax not paid or short paid or erroneously refunded or input tax credit wrongly availed or utilised by reason of fraud or any wilfull-misstatement or suppression of facts.
  5. Section 35 - Accounts and other records.
  6. Section 18 - Availability of credit in special circumstances.
  7. Section 16 - Zero rated supply.
  8. Section 16 - Eligibility and conditions for taking input tax credit.
  9. Section 130 - Confiscation of goods or conveyances and levy of penalty.
  10. Section 129 - Detention, seizure and release of goods and conveyances in transit
  11. Section 10 - Composition levy.
  12. SCHEDULE 02 [Section 7] - ACTIVITIES OR TRANSACTIONS TO BE TREATED AS SUPPLY OF GOODS OR SUPPLY OF SERVICES
  13. Rule 8 - Report relating to reduction of amount to be apportioned to Centre (Central Tax) and State (State Tax) or Centre (Union Territory Tax) due to Integrated Tax apportioned earlier but subsequently refunded.
  14. Rule 6 - Report relating to apportionment of Integrated Tax recovered against demand, compounding amount paid and amount deposited for filing appeal between Centre (Central Tax) and State (State Tax) or Centre (Union Territory...
  15. Rule 45 - Conditions and restrictions in respect of inputs and capital goods sent to the job worker
  16. Rule 43 - Manner of determination of input tax credit in respect of capital goods and reversal thereof in certain cases
  17. Rule 42 - Manner of determination of input tax credit in respect of inputs or input services and reversal thereof
  18. Rule 4 - Report of Cross-Utilisation and Apportionment of Integrated Tax between Centre (Integrated Tax) and State (State Tax) or Central (Integrated Tax) and Centre (Union Territory Tax)
  19. Rule 39 - Procedure for distribution of input tax credit by Input Service Distributor
  20. Rule 38 - Claim of credit by a banking company or a financial institution

 

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