PPT-INPUT TAX CREDIT (ITC ) under GST

Prepared By Hashir Mairaj Assistant Professor Department of Commerce SBSC CONTENTS Executive Summary Basic Concept and Principals Some important Definitions ITCEligibility Conditions and limitations. BHALLA & CO.. Chartered Accountants . 307 . LUSA TOWER, AZADPUR, DELHI 110033. Tel. : (O) . - . 27670448 . Fax : . - 47021342 {. R} . - . 23842238. {M} 9810067811 E-mail: kumarbhalla@hotmail.com. Highlights of ITC. 1. Availability of ITC on ‘. ALL Inward Supplies’ . Across the Supply Chain- . Manufacturer till it reaches consumer . Across the . States. 2. Furtherance . of . Business . Concept . Transactions. . . R. . S. Goyal. , Tax Consultant, Indore. Email. : . goyalrs@gmail.com. Present Scenario. . . After . the Supreme Court's Judgment K . Raheja. Development and Larsen & Toubro Limited’s case. Highlights of ITC. 1. Availability of ITC on ‘. ALL Inward Supplies’ . Across the Supply Chain- . Manufacturer till it reaches consumer . Across the . States. 2. Furtherance . of . Business . Concept . Transitional Provisions. 1. I was registered under existing law. How will I get . ITC. as on 01st July, 2017 ?. You’ll get ITC of amount carried forward in the return for 30th June, 2017, subject to conditions below:. V S Datey. Trailer is good – picture not so good. The idea of GST was initiated to create a national market and to avoid cascading effect of taxes.. However, the final shape of GST that has come on 1-7-2017 is not good at all. . . Compulsory requirement to enter. Different categories of ITC. NOT FOR GST PURPOSES. . -. 00. For specifying all kind of entries which are not falling under the purview of GST/ no impact on GST Returns.. An In-depth Analysis. Presentation by: . CA . Dharmendra. Srivastava. Overview of GST Model Law. Constitutional (One Hundred and Twenty- Second) Amendment Bill, 2014 has already been . passed by the . B. Com (H), CA, LLB. Partner . Athena Law Associates. CONTENTS. This presentation covers. -. Concept of Input Tax. Conditions and Restrictions for claiming input tax. Apportionment of credit. Transfer of credit. ITC. Create multiple drivers of growth by developing a portfolio of world class businesses that best matches organisational capability with opportunities in domestic and export . markets. Continue to focus on the chosen portfolio of FMCG, Hotels, Paper, Paperboards & Packaging, . LAW . PASSED . ON . 27. TH. MARCH 2017. CA MUKTA AGGARWAL. . . Section- 16. Eligibility . and conditions for taking . ITC. Sec 16 (1). Only . the registered taxable person under GST  can claim ITC.. . Changes brought upon by 47. th. GST Council Meeting. B. y . :. CGST Delhi . Zone. INDEX. Trade Facilitation Measures. Easing Compliances. Clarifications. Exemption Withdrawals. Rate Rationalization. 2017. Yesterday, today and tomorrow. ONE INDIA ONE TAX. CMA Suresh Pimple. . B.Sc. (HONS), FCMA , DISA. GST……Yesterday. Multiplicity of Taxes.. V S Datey. Trailer is good – picture not so good. The idea of GST was initiated to create a national market and to avoid cascading effect of taxes.. Final shape of GST that has come on 1-7-2017 is not good. .