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READING DOWN MODEL IGST ACT (PART-3) - (Input Tax / Output Tax)

Goods and Services Tax - GST - By: - Dr. Sanjiv Agarwal - Dated:- 11-7-2016 - Input Tax [Section 2(1)(d)] Input Tax has been defined as under- 'Input tax' in relation to a taxable person, means the Integrated Goods and Services Tax, Central G .....

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er sub-section (3) of section 4. Presently, Cenvat Credit Rules, 2004 also deal with input and input services for the purpose of Cenvat credit of input taxes. Model GST law in section 2(57) defines 'input tax' on similar lines with the differ .....

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to IGST, following points are important - input tax is in relation to a taxable person. input tax means IGST, CGST or SGST input tax should have been charged on any supply of goods and /or services to such taxable person. such goods and /or services .....

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39;Input Tax Credit' means credit of input tax as defined in section 2 (1)(d). Model GST law also defines input tax credit u/s 2(1) (58) on similar lines. When one takes credit of input tax in the course of business, it shall be called input tax .....

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