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

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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Master these 6 Reports to Maximize Your Input Tax Credit (ITC) Claim

Did you know that the condition of 10% provisional ITC rule will apply cumulatively for Feb to Aug 2020. And any cumulative adjustment for input tax credit for these months can be reported in 3B of Sept 2020. Read the full article for detailed conditions for ITC Claim with screenshots.

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Reversal of ITC for Real Estate Developers

Input Tax Credit (ITC) by applying the formula stated in Annexure of notification, within the due date of 20th September.

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[Case Study] GST Reconciliation in Manufacturing Industry

The introduction of GST, has provided a great boost to the manufacturing sector by eliminating the cascading taxes. This has resulted in reducing cost of production.

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Cases where Input Tax Credit (ITC) cannot be Claimed

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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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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5 Aspects of ITC Distribution an ISD should Know

‘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 GST Reconciliation

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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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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Narrow the difference in Your GST Reconciliation with IRIS Sapphire Insights and Reports

It is important to compare invoices, which itself could run into large numbers, and identify the matches and differences. It is also necessary that the differences itself are analysed so that the corrective actions can be taken.

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