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.

Share
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.

Share
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.

Share
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.

Share
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.

Share
[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.

Share
Narrow the difference in Your GST Reconciliation with IRIS GST Software Insights & 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.

Share