PPT-Input Tax Credit (ITC) Law and issues under ITC by CA. Kapil Aggarwal & CA. Vijay Narayan

by CA Kapil Aggarwal amp CA Vijay Narayan 1 Topics covered Input Tax Credit basic provisions Eligibility and conditions Sec16 Apportionment of credit 17 1 to 4 Blocked Credit Sec 17 5. MALLYA . -. JOURNEY OF AN ENTREPRENEUR . Profile. Born. : December 18, 1955 (age 53). Bantwal. , . Karnataka. .. Occupation: . Rajya. . Sabha. MP, Chairman- United Breweries . Group,Kingfisher. . INPUT . TAX CREDIT. Prepared by CMA . Rakhesh. . Warrier. ,. . Rajendran. . Mani . and . Varier. , Cost Accountants. Input Tax Credit. Section 2(56)- . ‘Input Tax Credit’. means credit of tax paid on input supply of goods and services. Formed in July 1998 under the name Catholic Tuition Organization of the Diocese of Phoenix (CTODP), becoming one of the first School Tuition Organizations in Arizona. Changed our name in July 2011 to Catholic Education Arizona (CEA). 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 . Journey so far. . Item fitment . in tax slabs. . (%). (Exempted). 7%. (5% . Tax. . Slab). 14%. (12% . Tax. . Slab). 17%. (18% . Tax. . Slab). 43%. (28% . Tax. . Slab). 19%. Note: . The . . . . . CA.PREETY PARIK. . . GST- Definitions . wrt. ITC. Sec.2(63) “. input tax credit”. . means credit of ‘input tax. Bilaspur. 2017-18. 16. th. Sept 2017. Table of Contents. Overview of GST. Goods & Service Tax . (GST). Service Tax. Excise Duty. VAT. Luxury Tax. Entertainment Tax. CST. Octroi Duty. State Excise Duty. . 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.. By: Benita Collier . Section 337 Litigation before ITC (International Trade Commission). Section 337 of the Tariff Act of 1930, 19 U.S.C. § 1337 declares unlawful certain unfair practices in import trade, including infringement of intellectual property rights. With respect to intellectual property, Section 337 prohibits the importation into the United States, the sale of importation, or the sale within the United States after importation of articles that infringe a valid and enforceable U.S. patent, copyright, trademark or mask work.. By. K.N.Hari. Hara Prasad. Dy.Director. (Cost). CGST Audit . Commissionerate. Anti Profiteering under GST law. Section 171 of the Central . Goods and . Services . Tax Act. , 2017 provides for Anti Profiteering measure. . In our last class on ITC, we have covered Section 16(1), 16(2), Reversal of ITC due to non-payment of consideration, ITC where invoices are not uploaded by supplier, 16(3), 16(4) and Blocked credit Section 17(5). M P Vijay Kumar . FCA, FCMA, FCS. INSURANCE !!. This presentation should only be read along with the text of . Ind. AS. . The views expressed are those of the presenter and, therefore, do not necessarily represent the views of either the Council or any Committee(s)/Board(s) of the Council of the Institute of Chartered Accountants of India (ICAI).. 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.. Gopal . Mondal . Cascading effect . No credit of CST . No credit of VAT to Service providers . No credit of basic customs duty and custom cess . No credit of . Swachh. Bharat cess to Manufacturer & service provider.