Input tax Credit (ITC) - Part 1

#lecture_32

¶ Input tax credit
• input tax (section 2(62))
• meaning of input tax credit (section 2(63))
• example of ITC

¶ Eligibility And conditions for taking input tax credit (section 16)

i) Eligibility for taking input tax credit (section 16(1))
• Registered person
• supply used in business
• credit Availment through electronic credit ledger

ii) conditions for availing input tax credit (section 16(2))
• Possession of tax paying documents
• receipt of supply by recipient
• payment of tax to the government
• furnishing of the return
• on receipt of last lot of the inputs
• payment to supplier within 180 days
• recipient shall be entitled to avail of the credit of input tax which is reversed
• No depreciation

¶ Documents required to claim ITC (section 16(3))
• Invoice by supplier
• Invoice by recipient
• Debit note
• other taxpaying documents

Valuation of taxable supply (Part-1) (Lecture 27) :

Determination of place of supply Part-1 (lecture 25) :

Time of supply Part - 3 (lecture 21) :

Time of supply Part - 2 (lecture 20) :

Time of supply Part -1 (Lecture 19) :

composition scheme Part - 4 (lecture 18) :

composition scheme Part - 3 (lecture 17) :

composition scheme Part - 2 (lecture 16) :

Composition scheme Part - 1 (Lecture 15) :

Levy and collection of tax in GST Part - 1 (lecture 13) :

Composite and mixed supply / taxable event and scope of supply party (lecture 12) :

Administration of GST part 2 (lecture 9) :

gst meaning and features part-2 (lecture 6):

#Input_tax_credit
#what_is_ITC
#input_tax
#credit
#eligibility_for_input_tax_credit
#conditions_for_Itc
#documents_to_claim_Itc
#gst
#bcom_5th_sem
#bcom_bba_mcom_mba
#ca_cma_cs
#hindi
#net_jrf

[bushrasadique]

Mam you give the bestt explanation mashallah.

[simranbeniwal]

Thanku you soo much mam your teaching is very well for me

[anjalikori]

Thank u ma'am eshe hi hume padhate rahiye ga 💗🥰🙏

[_ayan_malik_]

Nice way of teaching……❤❤❤❤ ❤lots of luv

[SiddhiJain-arham]

Your videos is very useful in my exams.

[divyarthgudlani]

Thank you ma'am, i scored amazing because of your amazing videos

[radhe]

Mam last ke bhi gst ke chapter upload kar dijiye
Ye chapter h (procedure of importation) ( procedure of exportation ) (export promotion scheme) please mam

[navdeepdhillon]

You are far better than other teachers on utube of indirect tax....👍 Keep it up mam

[yashsonkar]

Input tax credit is allowed for
(A) input material (b)capital goods

(C) input service

Please answer

[astha]

Thank you so much mam for these amazing lectures.. am doing cs currently in executive level n my exams are in dec .. Your videos are really helping me to revise the GST

[ushasaini]

Thank you mam
Your explanation way is very easy and easily understandable 😊

[dikshabhateja]

Mam ITC ka benifit supplier la sakta h ya recipient.

[smrutipragyansamal]

Mam cs excutive se related gst vedio chahiee

[chanchalreswal]

Ma'am I have a doubt....ki input tax credit sirf usi product par milta h yaa Dusre product kaa credit bhi hum le skte h?

[AbhishekSharma-iccz]

Mam b.com 3rd year ke practicals sum gst and tax iss playlist mein hai

[AkashKumar-dnhk]

income tax depreciation samajh nahi Aya madam

[akshitadeshwal]

Please make a video on offences and penalties....