Rule-44 of CGST Rules 2017 44. Manner of reversal of credit under special — (1) The amount of input tax credit relating to inputs held in stock, inputs contained in semi-finished and finished goods held in stock, and capital goods held in…
Category: GST
Manner of determination of input tax credit in respect of capital goods and reversal thereof in certain cases under GST
Rule-43 of CGST Rules 2017 43. Manner of determination of input tax credit in respect of capital goods and reversal thereof in certain cases.- (1) Subject to the provisions of sub-section (3) of section 16, the input tax credit in respect…
Manner of determination of input tax credit in respect of inputs or input services and reversal thereof under GST
Rule-42 of CGST Rules 2017 42. Manner of determination of input tax credit in respect of inputs or input services and reversal thereof.- (1) The input tax credit in respect of inputs or input services, which attract the provisions of sub-section…
Transfer of Input Tax credit on sale, merger, amalgamation, lease or transfer of a business under GST
Rule-41 of CGST rules 2017 41. Transfer of credit on sale, merger, amalgamation, lease or transfer of a business.- A registered person shall, in the event of sale, merger, de-merger, amalgamation, lease or transfer or change in the ownership of business…
Manner of claiming credit in special circumstances under GST
Rule-40 of CGST Rules 2017 40. Manner of claiming credit in special circumstances.- (1) The input tax credit claimed in accordance with the provisions of sub-section (1) of section 18 on the inputs held in stock or inputs contained in semi-finished…
Procedure for distribution of input tax credit by Input Service Distributor under GST
Rule-39 of CGST Rules 2017 39. Procedure for distribution of input tax credit by Input Service Distributor.- (1) An Input Service Distributor shall distribute input tax credit in the manner and subject to the following conditions, namely,- the input tax credit…
Claim of credit by a banking company or a financial institution
Rule 38 of CGST Rules 2017 38. Claim of credit by a banking company or a financial — A banking company or a financial institution, including a non-banking financial company, engaged in the supply of services by way of accepting deposits or…
Input tax credit to be reversed in the case consideration has not been paid under GST
Rule-37 of CGST Rules 2017 37. Reversal of input tax credit in the case of non-payment of consideration.- (1) A registered person, who has availed of input tax credit on any inward supply of goods or services or both, but fails…
Documentary requirements and conditions for claiming input tax credit under GST
Rule- 36 of CGST Rules 2017 36. Documentary requirements and conditions for claiming input tax credit.- (1)The input tax credit shall be availed by a registered person, including the Input Service Distributor, on the basis of any of the following documents,…
How to determine Value of supply if its inclusive of IGST, CGST & SGST
Rule-35 of CGST Rules 2017 35. Value of supply inclusive of integrated tax, central tax, State tax, Union territory tax.- Where the value of supply is inclusive of integrated tax or, as the case may be, central tax, State tax, Union territory…