Daily Archives: February 25, 2018

Example on Rule 7 of GST Input Tax Credit Rule – Inputs Partly used for business and partly for other purposes

By | February 25, 2018

ITC under GST when inputs or input services  used partly for business and partly for other purposes Rule 7 of Final GST Input Tax credit rules prescribe method of Input tax credit of inputs or input services   i) Partly used for the purposes of business and partly for other purposes, or ii) Partly used for… Read More »

Example on Rule 5 of GST Input Tax Credit Rule – ITC on Capital Goods

By | February 25, 2018

Rule 5 of GST Input Tax Credit Rule Calculation of Input Tax Credit on Capital Goods Where the Registered persons ceases to pay tax under Composition Scheme under section 10 of CGST Act 2017 , then he can avail Input Tax credit in respect of followings , Inputs Semi Finished goods Finished Goods Capital Goods on… Read More »

Example Rule 8 of GST Input Tax Credit Rule – Capital Goods Partly used for Business and partly for other purposes

By | February 25, 2018

Input Tax Credit on Capital Goods Partly used for Business and partly for other purposes Input tax credit in respect of capital goods, which attract the provisions of sub-sections (1) and (2) of section 17, being i) Partly used for the purposes of business and partly for other purposes, or ii) Partly used for effecting… Read More »