CA Inter Taxation GST Revision | L7: Input Tax Credit By CA Nishant Kumar

📚In Lesson 7 of the CA Inter Taxation GST Revision series, CA Nishant Kumar from Adda247 Ekagrata CA covers the essential concept of Input Tax Credit (ITC) under GST.

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📚CA Intermediate 2025

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🔥This video will guide you through the rules and procedures to avail ITC, the conditions under which it can be claimed, and its importance in reducing GST liability. You'll learn about how ITC can be utilized for business tax planning and ensuring compliance with GST laws.

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#CAInterTaxation #InputTaxCreditGST #NishantKumarSir #GSTRevision #CAInter2025 #ITCInGST #EkagrataCA #GST

[atomic-vacuum]

2:38 Basic Process of Availment of GST
9:54 Process of Payment of Tax
16:50 Important Definitions
*Section 16*
19:14 16(1)
20:52 16(2)(a)
21:51 16(2)(aa)
22:16 16(2)(b)
24:00 16(2)(ba)
27:16 16(2)(c)
31:08 16(2)(d)
31:26 Provisos
34:38 16(3)
35:45 16(4)
*Section 17*
38:53 17(1)
39:08 17(2)
39:31 17(3)
40:21 17(5)
41:16 17(5)(a)
42:36 17(5)(aa)
43:20 17(5)(ab)
44:46 Leasing/renting/hiring of motor vehicle/vessel/aircraft on which ITC is disallowed
45:42 17(5)(b)
46:54 17(5)(c)
47:39 17(5)(d)
49:17 17(5)(e)
49:40 17(5)(f)
49:50 17(5)(g)
50:18 17(5)(h)
50:38 17(5)(i)
51:24 17(6)
51:35 General Rule
54:21 Rule 86A
57:20 Rule 86B
*Section 18*
1:00:32 18(1)/(2)
1:15:51 18(3)
1:08:42 18(4)
1:14:12 18(6)
1:17:16 Rule 41A

[rohitsoni]

It's evident that a lot of effort and expertise went into creating this chart, and it's paying off in spades. The color scheme is engaging without being overwhelming, and the annotations provide valuable context. This chart will undoubtedly be a valuable resource for anyone looking to grasp the nuances of GST and its positive effects.

[Shivamsingh-vqyi]

Mene nishubhaiya ke chart ko itna dekha inta dekha jitna inn aankho se dekha jaa skta tha lekin phir bhi inn ankho se kitna dekha jaa skta tha❤

[pepsicola]

mst chart hai nishu bhaiya very helpful THANK U SOO MUCH

[may_]

dimaag me chap gaya ye chart sir
so beautiful, so elegant, just looking like a wow

[H.KING_]

Watching this one day before exam very helpful

[hahanotsofunnyy]

sir i had joined classes for may attempt and i failed both groups. and now your revision lectures and notes alone are clearing more concepts for me than those classes i attended for an entire year. thank you

[aliceculin]

Yes sir we want these charts as well for other chapters... It's amazing loved

[Cash_ketchup]

The way you prepared the chart & it's content, just amazing sir, amazing job ❤️

[kishugarg]

Best best best teacher for taxation…. ❤️❤️Thanku so much sir for these free revision lectures🥺

[gmayofficial]

thank you so much much nishant sir and entire ekagrata team for providing amazing lectures along with great quality of teaching and expertise.
these notes are something one only need to excel precise and perfect
GRATEFUL

[sanatanadharm]

What a lecture sir 🙌. Charts Are Very Helpful To us. At The Last Time Revisions This Charts Are Very Useful it Boosts Our Confidence.
Thank You Sir 🙏🙇‍♂️.

Jai Shri Ram 🙏🕉

[jayshreeladdha]

These Revisions are very very very helpful for Revisioning the whole GST had also provided very helpful notes for last time revisions ....Thank you so much sir🙏

[mrabhilashchy]

00:02 Understanding input tax credit in GST revision
01:59 Understanding Input Tax Credit and its Sections
06:16 Understanding Input Tax Credit in GST filing
08:19 Process of availing Input Tax Credit in GST
13:17 Understanding the process of input tax credit in GST.
15:57 Input Tax Credit (ITC) calculation and filing process
19:48 Conditions for availment of Input Tax Credit
21:47 Input Tax Credit (ITC) entitlement upon receipt of goods and services.
25:24 Rule 86B requires cash payment if sales exceed Rs 50 lakh per month
27:08 Conditions for claiming input tax credit under GST
30:33 Claiming Input Tax Credit
32:22 Input Tax Credit reversal process under GST
35:50 Time limits for availing ITC in GST
37:35 Section 17 talks about apportionment of credits and blocked credits.
41:23 Ineligible motor vehicles do not qualify for Input Tax Credit (ITC)
43:08 Input Tax Credit (ITC) eligibility for transportation of goods and services.
46:36 Input Tax Credit (ITC) scenarios in GST
48:12 Definition of Plant and Machinery in GST law
51:52 Utilization sequence of Input Tax Credit
53:39 Utilization of IGST, SGST, and UTGST credits under GST
57:11 Input Tax Credit rules under GST Rule 86B
59:01 Input tax credit and output liability rules under GST
1:02:56 Input Tax Credit eligibility based on registration status
1:04:47 Input tax credit on capital goods and its reduction by 5 per quarter
1:08:21 Section 184 mandates reversal of Input Tax Credit for registered persons switching schemes
1:10:11 Reversal of ITC based on market price and prorate basis
1:13:38 Understanding Input Tax Credit reversal in case of registration cancellation
1:15:16 Input Tax Credit (ITC) rules for specific items

[aryansrivastava]

SIR NO WORD TO DESCRIBE THAT HOW WELL PREPARED THESE CHARTS ARE, JUST KILLING AND LOVING IT! ❤️🙏🏻❤️🙏🏻
Thank U Sir! ❤️🙏🏻❤️🙏🏻

[savagejethiya]

Sir jo clarity milii hai you so much sir ❤❤❤❤ actually i was confuse about how itc works but this video made clearer picture in my mind

[bhavyalakshmyv]

Sir these charts are super amazing waiting for upcoming chapters..feeling blessed to be your student

[kayf_ahmad]

amazing Sir! I wish I did Intermediate from EkagrataCA

[sharjeelanjum]

🔥🔥🔥🔥nishu bhaiya angaar hai baki sab bhangaar hai 🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥 awesome lecture by awesome person salute nishu bhaiya

[madhusudhanku]

Yass..sir.. beautiful and colourful and easy to understand the chart...very very usefull...sir...tq so much NISH10...🎉u r the best educator....sir...❤