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Eligibility of an Exporter for Input Tax Credit or liability to pay Higher Drawback or liability to repay the refund amount in case of Export of Goods against Higher Drawback in the period July to September 2017

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This article tries to analyse eligibility of an exporter for Input Tax Credit in case of Export of Goods against Higher Drawback in the period July to September 2017. Whether He is eligible for ITC of CGST/IGST during the entire period of July to September 2017, orHe is not eligible for any ITC of CGST/IGST during the entire period of July to September 2017, orHe...

Whether exempted supply of MEIS License merits entire Input Tax Credit of Raw Material and Input Services to be treated as common credit for reversal under Rule 42/43

by CA Dr. Arpit Haldia

UAE Imports Exports ReExports - GST Online - Latest GST Updates, GST Analysis, GST Publications

Articles & Writeup

The article intends to cover the subject of reversal of Input Tax Credit on MEIS License Sale wherein in certain cases revenue is treating the entire Input Tax Credit claimed by the taxable person as Common Credit under Rule 42. That as for providing the background, MEIS is a government scheme launched with the objective to provide rewards to exporters to offset infrastructural inefficiencies and...

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Amount held as Retention Money by the recipient-Reversal of Input Tax Credit for non-payment of consideration within 180 days from the date of Invoice

Eligibility of an Exporter for Input Tax Credit or liability to pay Higher Drawback or liability to repay the refund amount in case of Export of Goods against Higher Drawback in the period July to September 2017

Whether exempted supply of MEIS License merits entire Input Tax Credit of Raw Material and Input Services to be treated as common credit for reversal under Rule 42/43

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Central Tax Notification: 40/2021-Seeks to make amendments (Tenth Amendment, 2021) to the CGST Rules, 2017.

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Presentation in National Conference Organized by Aurangabad Branch of WIRC of ICAI on 14th December 2019-Risks and the Profession

Circular No. 164/19/2021-GST dated 6th October 2021 vis-à-vis Notification No. 11/2017- CT Rate- Whether Circular goes beyond the Residual Entry Rule applicable for Classification of Rate for Service for levy of Tax Rate on Royalty at the rate of 18%-Part II

Amount held as Retention Money by the recipient-Reversal of Input Tax Credit for non-payment of consideration within 180 days from the date of Invoice

Eligibility of an Exporter for Input Tax Credit or liability to pay Higher Drawback or liability to repay the refund amount in case of Export of Goods against Higher Drawback in the period July to September 2017

Whether exempted supply of MEIS License merits entire Input Tax Credit of Raw Material and Input Services to be treated as common credit for reversal under Rule 42/43

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