TMI - Tax Management India. Com

Home List Manuals GSTGST - Input Tax Credit (ITC) This

  • Login

Forgot password       New User/ Regiser



 

Block Credit - Ineligible for ITC - GST - Input Tax Credit (ITC) - GST

Extract

..... credit can availed without any restriction. If motor vehicles purchased for transportation for passenger, if approved & seating capacity ( including driver ) is 13 or less If motor vehicle use for making taxable supply Further supply of such motor vehicle like renting or lease services , automobile shop, showrooms, or manufacturing establishment Transportation of passenger Training and driving of such motor vehicle. Other than above mention used, no ITC available on motor vehicle. Section 17(5) Clauses (aa), - Vessels and aircraft If vessels and aircraft purchased use for transportation of goods , input tax credit can availed without any restriction. If vessels and aircraft purchased for transportation for passenger, input tax credit ca .....

X X   X X   Extracts   X X   X X

Login / Subscribe to Access Full Page

Block Credit - Ineligible for ITC - GST - Input Tax Credit (ITC) - GST

X X   X X   Extracts   X X   X X

..... y a registered person for making an outward taxable supply of the same category of goods or services or both or as an element of a taxable composite or mixed supply. (ii) The following supply of goods or services or both Membership of a club, health and fitness centre; an Travel benefits extended to employees on vacation such as leave or home travel concession: (iii) For the purpose of sec 17(5)(b), the Input tax credit in respect of such goods or services or both shall be available, where it is obligatory for an employer to provide the same to its employees under any law for the time being in force. Section 17 (5) Clauses (c) & (d) - Works contract services use construction of an immovable property (except Plant & Machinery) For th .....

X X   X X   Extracts   X X   X X

Login / Subscribe to Access Full Page

Block Credit - Ineligible for ITC - GST - Input Tax Credit (ITC) - GST

X X   X X   Extracts   X X   X X

..... uses (f) - Non Resident taxable person ITC shall not be available for any tax paid on goods or services or both received by a non resident taxable person (Domestic Purchase ) except on goods imported by him. Section 17(5) Clauses (g) - Goods or services or both used for personal consumption ITC is not available on purchases that are not used in business but used for personal purposes. If part of goods or services purchased is consumed for both business and personal use, then ITC will be allowed only to the extent of business use as per the formula of common credit. Section 17(5) Clauses (h) - Goods lost, stolen, destroyed, written off or disposed of by way of gift or free samples Goods lost, stolen, destroyed - Following situation accrued i .....

X X   X X   Extracts   X X   X X

Login / Subscribe to Access Full Page

Block Credit - Ineligible for ITC - GST - Input Tax Credit (ITC) - GST

X X   X X   Extracts   X X   X X