TaxTMI 
TaxTMI 
Concept of Input Service Distributor in GST
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....the credit of central tax (CGST), State tax (SGST)/ Union territory tax (UTGST) or integrated tax (IGST) paid on the said services to a supplier of taxable goods or services or both having same PAN as that of the ISD. Q 2. What are the requirements for registration as ISD? Ans. An ISD is required to obtain a separate registration even though it may be separately registered. The threshold limit....
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.... possible many a times to establish a one-to-one link between quantum of input services used in the course or furtherance of business by a supplier. In such situations, how distribution of ITC by the ISD is to be done? Ans. In such situations, distribution would be based on a formula. Firstly, distribution would be done only amongst those recipients of input tax credit to whom the input service ....
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....a company have multiple ISD? Ans. Yes, different offices like marketing division, security division etc. may apply for separate ISD. Q 9. What are the provisions for recovery of excess/wrongly distributed credit by ISD? Ans. The excess/wrongly distributed credit can be recovered from the recipients of credit along with interest by initiating action under section 73 or 74. Q 10. Whether CGS....
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....ute SGST and IGST credit as SGST / UTGST credit for the recipients located in same State. Q 14. How to distribute common credit among all the recipients of an ISD? Ans. The common credit used by all the recipients can be distributed by ISD on pro rata basis i.e. based on the turnover of each recipient to the aggregate turnover of all the recipients to which credit is distributed. Q 15. The I....