IDT Revision CA/CMA Final May 24 & Nov 24 | Input Tax Credit (ITC) | CA Surender Mittal AIR 5

AIR1CA Career Institute (CA Atul Agarwal & CA Ajay Agarwal)
Topics Covered:
Input Tax Credit (ITC)
Job Work

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[vivekdiwakar]

Bro your revisions are still better than many of the paid IDT lectures

[himanshugoel]

00:03 Explanation of input tax credit for businesses.
01:53 Input Tax Credit (ITC) allows you to reduce tax liability
05:34 Understanding Input Tax Credit (ITC)
07:28 Valid tax payment requires proper documentation
11:16 Understanding Input Tax Credit (ITC) and goods received in installments
13:05 Conditions for input tax credit
16:54 Input Tax Credit (ITC) conditions and time limits
18:49 Understanding the timeframe for availing Input Tax Credit (ITC)
22:37 Rules of reversing input tax credit
24:20 Depreciation on certain components can affect Input Tax Credit (ITC) eligibility.
27:50 Input Tax Credit for specific items in motor vehicles
29:30 Input Tax Credit (ITC) for Vessels and Aircraft
33:06 Input Tax Credit (ITC) availability in specific scenarios
35:04 Understanding Input Tax Credit (ITC) and its applicability in various scenarios
38:27 Input Tax Credit (ITC) eligibility for contract services and goods
40:15 Input Tax Credit (ITC) on plant and machinery
43:52 Gift and free samples impact on Input Tax Credit
45:36 Input Tax Credit (ITC) allows you to claim credit for taxes paid on inputs.
49:58 Understanding Input Tax Credit (ITC)
51:49 Input Tax Credit (ITC) is available for taxable and zero rated supplies.
55:28 Input Tax Credit (ITC) is available for taxable and zero-rated supplies.
57:16 Understanding Input Tax Credit (ITC) calculation based on turnover and types of supplies
1:00:50 Understanding the value of supply in relation to GST and excise duty.
1:02:39 Understanding the implications of various purchases and taxes.
1:05:57 Understanding the concept of sale of land and building and its implications.
1:07:37 Understanding Input Tax Credit (ITC) and its application
1:10:55 Rule 43 explains input tax credit for capital goods.
1:12:52 Input Tax Credit (ITC) allows businesses to claim credit on taxes paid on inputs.
1:16:30 Claiming input tax credit for taxable products
1:18:08 Understanding input tax credit rules and its impact on taxable products
1:21:46 Understanding Input Tax Credit (ITC)
1:23:27 Input Tax Credit reversal and conditions
1:27:09 Understanding the reversal of input tax credit
1:28:58 Understanding Input Tax Credit (ITC) reversal and its impact
1:32:27 Input Tax Credit (ITC) while transitioning from composition scheme to regular scheme.
1:34:18 Input Tax Credit (ITC) allows credit on stock and purchased goods.
1:37:49 Input Tax Credit (ITC) Rules Overview
1:39:37 Input Tax Credit (ITC) conditions
1:43:09 Understanding Input Tax Credit (ITC) and its application in different scenarios.
1:44:39 Reversal of input tax credit may be required for certain transactions.
1:48:28 Transferring input tax credit between businesses
1:50:04 Understanding input tax credit and asset transfer in different states
1:53:46 Input Tax Credit (ITC) for services near the corporate office
1:55:24 Separate registration is required for distribution of input tax credit
1:58:48 Distribution of Input Tax Credit (ITC) in Rajasthan
2:00:33 Understanding the distribution of Input Tax Credit (ITC)
2:04:11 Liability and credit management for IGST and CST
2:06:22 Understanding the utilization of Input Tax Credit (ITC)
2:09:38 Liability of CST and Utilization of ITC restrictions
2:11:31 Paying tax liability using ITC and cash
2:14:56 Understanding the restrictions and implications of Input Tax Credit (ITC)
2:16:34 Understanding Input Tax Credit (ITC)
2:20:10 Goods sent to workers require delivery challan and e-way bill documentation
2:21:45 Input Tax Credit (ITC) is crucial for businesses.

[RavindraPatil-no]

25:00 Blocked credit
25:30 Motor Vehicle
29:30 Vessel / Aircraft
31:00 Insurance of Motor Vehicle/ aircraft
33:20 Food and other services, membership of club, travel benefit
37:30 Works contract
41:40 non resident taxable person
42:50 lost/destroy goods/Free Sample other
45:50 Relevant definition & Fundamental of ITC
52:50 Apportionment of ITC
1:11:20 Rule 43 Apportionment of Credit on Capital goods
1:31:00 Special Cases for availing ITC
1:40:30 Special cases for reversal

[edututorials]

25:00 Blocked credit
25:30 Motor Vehicle
29:30 Vessel / Aircraft
31:00 Insurance of Motor Vehicle/ aircraft
33:20 Food and other services, membership of club, travel benefit
37:30 Works contract
41:40 non resident taxable person
42:50 lost/destroy goods/Free Sample other
45:50 Relevant definition & Fundamental of ITC
52:50 Apportionment of ITC
1:11:20 Rule 43 Apportionment of Credit on Capital goods
1:31:00 Special Cases for availing ITC
1:40:30 Special cases for reversal
1:52:23 ISD
2:02:25 Utilization of ITC
2:10:36 86B
2:16:30 Job Work

[trishna_]

Best ITC Revision lecture on YouTube! Even better than actual classes. Thankyou Sir! ✨

[SKVK]

Itna to kuch teachers original lectures me bhi nahi batate.. Jitna yaha revision video me mil gaya.. Thanks Sir❤

[yogeshparmar]

14:28 3b n 2b concept
32:43 insurance
53:00 rule 42
1:22:08 capital goods
1:37:48 registration
1:51:33 apportionment of ITC
1:52:25 place of business
2:04:53 utilisation of ITC

[Ajaysingh-dynt]

It was like spoon and every concept got cleared...far better than AKG

[vinitasethuram]

These revision lectures have been a blessing Sir! They are actually so much better than the paid IDT lectures available in the market. Thank You Sir! Radhe Radhe :)

[saisashidhar]

Thank you Atul Bhai, Ajay Bhai & Surender Bhai for giving your invaluable time in these revision lectures . The Quality of These videos are top notch and my only regret is that these videos are available for free, you people are doing god's work! you people should have actually got paid for these. I am hoping a lot of students buy your classes in the future. THANK YOU
JAI SRI RAM

[siddhim]

Trust me when i say this, I've taken classes/material from two of the renowed IDT faculties, tried both of them but none of that compares to the conceptual clarity in a concise manner as Surender Sir's YT revision holds.

If any one is contemplating whether to go for this lec, you must. (Take print of his concept books for the best experience)

[dikshachawla]

i usually dnt comment BUT the level of concept clarity in this lecture is trutly worth it. Thankyou sir ..really thankyou. 🙏

[Abhayoh-msew]

Direct, efficient, to the point. Amazing work sir.

like someone mentioned, surender sir's IDT revisions are better than some full on detailed lectures of other faculties, I am not to name them *cough* *cough* PUNE *cough*.
Others spend atleast 30 mins out of 60 mins to ask us to like their "revision" videos or praise themselves about how "great" their charts are, while sir completes his revisions in half the time, albeit, with better quality!

[sumitagarwal]

Sir I cleared my CA, final exam and through revision video class I got 58 marks in DT thank u for ur wonderful revision class

[soumyamehta]

U ll be no 1 idt faculty in coming years..thank you so much u save lots of time by this revison videos ...as i m a mother of 4 year old baby and can study upto 6 hrs daily...for me these videos are gold❤

[CaAkash]

आज तक इतने शानदार तरीके से किसी ने भी ITC नहीं पढ़ाया था। बोलो वृंदावन बिहारी लाल की है

[bulbulaggarwal]

2:10:36 restriction on use of itc
1:18:22 special treatment

[yashjain]

Appreciation comment to u sir ....meko zara bhi interest nai aaraha tha yeh itc me but jaisa aapka vedio dekha apportionment itc ka ..my god ....easy super easy laga ❤️❤️❤️❤️👍🏻👍🏻

[SakshiPalande.]

Surender sir also helps with doubt solving on WhatsApp, that's so kind and helpful of him. Thank you

[ps-ghhu]

ITC-02 form ko mast simplify kiya, I had discussed with a few CA's in M&A practice, but itna simplify koi nahi kar paya tha. Surender Sir is a legend sach mai. thank you very much sir for simplifying the subject.