ITC is Available even in case of a Mismatch of 2A: GST Circular 183/2022

CBIC has issued a GST circular no 183/2022 clarifying the procedure to be followed for dealing with the difference in ITC availed in GSTR-3B as compared to that detailed in GSTR-2A for FY 2017-18 & 2018-19

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4 Key Aspects of ITC Computation

ITC Computation is fundamental for businesses to ensure maximum ITC claim as it can help have more working capital. In this article, we will discuss 4 key aspects of ITC computation in detail.

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Maximize ITC Claim: Here are 4 things you need to do!

The ultimate objective of every taxpayer is to maximize ITC claim while following all the conditions and rules of GST law. The success of this goal depends on the internal practices and tools used and some external factors such as vendor compliance. Here, we discuss, 4 important aspects to maximize ITC claim.

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Input Service Distributor: 5 Aspects of ITC Distribution

‘Input Distributor Officer’ is one of the most crucial concepts in the Indian economy, especially for the big players in the market.

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Your 3-step Guide to a Hassle-free Reconciliation under GST

Every month’s GST filing, you need to reconcile your purchase data with all your suppliers’ sales data that they have uploaded on GSTN.

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All about Input Tax Credit (ITC) | How to claim ITC?

Input Tax Credit or ITC under GST is the credit back of the tax a registered GST taxpayer pays on inputs i.e. purchases. This tax he is liable to get back from the government. Read more

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GST Reconciliation for IDT Teams: Types, How to, Importance, ITC Computation, Common Issues

The term ‘reconciliation’ means to compare two sets of data entries to identify any mismatches or variances. The data sets are of the same origin but come from different sources. It is a practice for correcting errors in the process.

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Utilization of Input Tax Credit under GST Rule 88A, Section 49A and 49B

Updates: 23 April 2019 – Presently, the common portal supports the order of utilization of input tax credit in accordance with the provisions before implementation of the provisions of the CGST (Amendment) Act

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Cases where Input Tax Credit cannot be availed under GST

The Input Tax Credit mechanism allows a taxpayer to reduce his tax liabilities on his sales with the taxes paid on inward supplies.

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How to Win Your GST Reconciliation & Influence ITC

The ability to claim ITC on your purchases, has made the reconciliation of your purchase data with your suppliers’ data extremely crucial.

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2B or not 2B:10 checkpoints to maximize your ITC Claim

Checklist to maximize ITC Claim | ITC Claim under GST | GSTR 2B and GSTR 2A | Role of GSTR 2B in ITC Claim | ITC Maximization | Read more

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All about Provisional ITC (Input Tax Credit) | CGST Rule 36(4)

The central government vide Notification no 49/2019 central tax dated 9/10/2019 has made amendments to CGST Rules, 2017.

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