Tag: ITC

#GSTCase-60- In a supply between related parties, ITC is not available to recipient of goods/service if value declared by supplier in invoice/debit note is zero. (Second Proviso to Rule 28)

#GSTCase-60- In a supply between related parties, ITC is not available to recipient of goods/service if value declared by supplier in invoice/debit note is zero. (Second Proviso to Rule 28)   AAAR Ruling:- Assistant Commissioner, CGST & CX 97 taxmann.com 636 (AAAR-WEST BENGAL) AAR Ruling reviewed: GKB Lens (P.) Ltd., In re 93 taxmann.com 477/68 GST 314 (AAR-West Bengal) -Department has preferred an ...

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Does 17(5)(a)(i) allows ITC only to persons engaged in buying and selling of of motor vehicles -Part II

This article is continuation of the earlier article wherein it was detailed that why Input Tax Credit should be allowed of the taxes paid on the motor vehicle which have been capitalized and sold later on. The previous article articulated why 17(5)(a) should be interpreted in a manner different from how till now it has been perceived. The link to the earlier article is given ...

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