Understanding the Latest ITC Rules for Input Tax Credit in GST ft
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- Опубліковано 20 жов 2023
- In this video, we delve into the recent changes in Input Tax Credit (ITC) rules related to GST, specifically focusing on the utilization of ITC for various types of taxes. We explain the four types of taxes under GST, including IGST, CGST, SGST, and UTGST, and how ITC can be applied to each. We also explore the key provisions of Section 49A, Section 49B, and Rule 88A, as amended in GST Circular No. 98/17/2019. Additionally, we clarify the order of utilization of ITC, as per the provisions of Section 49 of the CGST Act. Stay informed about the latest updates in the world of taxation.
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Disclaimer- Although all provisions, notifications, updates, and live demos are analyzed in-depth by our team before presenting to the public. We hereby provide our point of view only and tax matters are always subject to frequent changes hence advisory is only for the benefit of the general public. Hence neither Fintaxpro Advisory LLP nor its designated partner is liable for any consequence that arises on the basis of UA-cam videos.
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Sett off को लेकर मेरी देखी गई अब तक की सारी वीडियो में ये सबसे शानदार और आसान वीडियो है, जिसे ये समझ ना आया हो वो अकाउंटिंग छोड़ कर कुछ दूसरा काम कर ले.......इस वीडियो के लिए दिल से आभार और धन्यवाद सर।
Your video is best in terms of clearity of concepts and practical knowledge.❤
Sir this video Is very Useful For ITC Related Query& Set Off.All Doubts Are clear Regarding ITC Thanks A Lot Sir.
Really Superb explanation ekdam step by step
We want more such useful videos sir
Usefull video Sir 👍... Thank u
Nice explanation about ITC
Ist video on you tube. For itc claim and utilisation with practical thanku so much sir...
Most Welcome
Best teacher ever, enta achha koi explain nhi karta, aapke video dekhne me mood achha hota hai
Great teaching, clear all concept
Namaskaar sir...
Thank you So much
36 minutes ka video itne interesting dhang se aapne concept clear Kiya ki pta hi nhi chla video kab khatm ho gya ❤
Glad you like it.
This is best video.Thank you
Thank you sir for such an amazing content
Explained nicely, thanks Vivek for such an amazing video that has been really helpful in our practical field!
My pleasure
Thank you Sir, you explain really well
Nice Sir,
Theory is Cleared
Best video clear all concepts
Thanks sir
sir literally aapki practical videos me itne achee se dekhta notes banata explanation bhot achaa krte hai nd man bhi lgta h itna theoritical videos me man nhi lgta itna
Glad you like it
Your video is best
Thanku you sir great explanation
Bahut badhiya sir🎉
finally get ITC setoff explanation video 🙏
Glad you liked it!
Very nice explanation thank u
Thanks sir🙏
Superb sir❤️
Very useful hai sir
Very nice and informative session..May god bless you
So nice of you
ITC Claimed & UTILIZED BOTH
Nicely explained sir 👌
Thank you sir🙏🏻
The best Ever video i found on UA-cam ❤ so easy to understand thanks 🙏
Glad it was helpful!
Superb way to explain the set off rules great vivek sir
Baht badiya
Teaching of GST Really fantastic, even common man also understand
Thanku very much sir
👌 best video sir....🎉
Thanks sir g
Thank you so much Sir,
Best video sir, Thanks a lot 👍👍👍👍👍🙏🙏🙏🙏🙏
Most welcome
Thanku Sir
Welcome
Thank you
Good
Thanks
Interest calculate on ITC Utilisation 🎉❤❤❤🎉
Tq sir
Very well explained...
Thank you 🙂
Thank you sir ji 🙏
Most welcome
Thanks sir😊😊😊😊
Welcome
Namaste sir
Thanks
Super video on it.
Murthy
Thanks and welcome
super duper
Very good information
Thanks
♥♥♥
❤
Interest Applicable in ITC Utilized
Sir, jab composition dealer dusre composition dealer se purchase karta hai toh reverse charge lagta hai yaa nhi , yadi lagta hai toh kitne amount ke purchase par lagta hai vo limit kya hai
Sir , while claiming deduction u/s 80 Dd ( disable person medical rxpense and maintenance) we have to file form 10 IA . Can we upload disability certificate in attachment.
Sir , mera feb 2022 me gst ITC claim krna rah gaya tha, toh abhi mai feb 24 ya fir mar 24 me claim kar sakta hu kya
Sir with example with practical ke sath samjhaie
Sir kya ecommerce platform ka ITC claim kar sakte hai 🙏
Both, claim and Ultilasaton
Both words are different.kindly brush up your knowledge.
Hello Sir,
This video was excellent and very informative.🙏 Thank you so much sir
I have a problem in utilizing my GST credit due to this order of utilization priority.
My situation is similar to example 5 you have shown
Is there any solution to utilize SGST credit for IGST liability before exhausting CGST credit in electronic credit ledger ?
why is the government setting this priority guideline in way it become a hurdle for business activity ?
Can you please help
Thanks in advance.🙏
Your videos are easily understandable,,, gr8 work... Just i have two questions, my ITC was not reflected in 2B, is it because my business was with some one whose GST was on quarterly and mine is on monthly scheme? however my consultant already claimed it in 3b!! and to my surprise it got auto populated too,,, now comes the second question, will i be fined do to the above action?
please reply
Quater Wale IFF monthly fill karte hai toh toh purchase Kane Wale party ke 2B me reflect karta hai
The aim is to utilise the ITC in such a way that there is no need or minimum need to make payment in cash. This is what GST Tax planning is. Further, interest is charged upon ITC utilised.
😅😅
Sir 5th example me apne CGST ka ITC IGST se adjust karne se phle CGST se adjust kara hai kya aise kar sakte hai ya phle IGST se adjust karenge aur uske bad CGST???
Ha usme koi issue nahi
Agar d mart se product khardia or sweets leliya customers ko or employees ke liye to uska Itc claim le sakate hai kya
सर आपको काफी समय से देख रहा हूं। पहले आप स्वस्थ दिखते थे अब नहीं, जिम कर रहे हैं तो ठीक है वरना हैल्थ चैकअप कराना नहीं भूलना 😮😊
Gym, Exercise & Running plus diet on point hai and yes fit rehne k liye checkup bhi karata hu regularly.
Thank you aapne itna socha 🫡
Interest is charged on ITC utilisation @18 % p.a
Sir aagr ITC liya hi nahi matlab jiska ITC nahi liya ni nahi 0 dala toh chalta hai kya without any reporting
Sir tax return, GST &TDS video bnao
Sir it's good and understandable.. plz make a video for how to file Gstr returns of restaurant service who provide dine in and thru swiggy Zomato and important point is that if we choose qtrly scheme then how to file GST returns of this
Pls also provide Journal entry of setoff
Sir
Agar total sale ka 20% sale sez unit ko hai ji without gst hai to input credit purchase ka full clam kar skatai hai ya input ka 20% reverse karna hoga
If you get reply, plz share
Sir, aapka GST course join karna chaahta hu but kya online course se completely learn karne ke baad apne return filling job me success ho sakte hai?? Jaise ki novice doctor to chir-faar, sui sarkaari college me gareeb mareejo par practical karke seekh leta hai par accounting profession me kaha par log seekhne dega apne gst ligin id se... iske liye to fir CA office me job join karni paregi. Aajkal waha bhi novice ko chance nahi milta hai.
Kind information I need sir not submit returns due to cancellation is possible to claim itc
Int. applicable if ITC utilised
Bills for the year 22_23, accounting entry done in 23_24 , ITC available in 2B in 23_24 and utilsed in 23-24. How to show this in GSTR 9 & 9c of F.y 22_23
Interest on utilised ITC
Interest will be levied on excess utilized itc
interest calculated on itc utilization amount
Sir, I am trying to purchase your course, but before that i message for some inquiry like ..how can I reach to you or your team regarding queries after purchase.., but I am not getting reply from your team sir,... You are best teacher sir, but how can i trust that I will get personal support in case of some queries after purchasing the course, as your customer support team is not responding.
I apologise if I am wrong, pls look into this matter
You can call us on 7827521794 for queries.
Because of due date of quarterly 3B staff maybe engaged in filing
Hello Sir Can u just help/Guide with filling of ITC-04 Return For Job work Jewellery and others
I have an question that can we claim itc of bank charges and bank interest and loan processing fee
Yes
Bank charges, loan processing are fall under gst scope and eligible for ITC.
Utilisation pr count krenge
CGST & SGST NOT SETOFF IN CROSS
Itr invalid due to non verification
Hamara sawal itr e verify same day kiya phir bhi itr invalid hua h wo sahi kaise hoga, hamara itr nill ka h oct me bhara tha 7 ko pr aj invalid dekha h
Intrest levy for ITC utiliztion
Sir. can u make video on gst -itc & depreciation on capital goods from both seller and buyer side and it's effect in gstr1 & 2b.there is confusion about 100% itc or itc in installment on capital goods .full gst will show in 2b & buyer have to make reversal for installments.what is latest rule?.pls reply
Itc utilisation per interest dena hoga.
Interest will be charged on ITC utilisation
Sir agar mera fertilizer ki firm h or mene ek laptop liya usme 18% gst include h but CA bol rha h ki gst claim aadha hoga kuki aapki firm fertilizer ki h agar electronics ki hoti to poora mil jata kya aisa bhi kch hota h? Pls reply
Agar aap Nil rated supply karte ho to proportional ITC claim hoga based on Taxable turnover refer Rule 43
Sir why there are are CGST & SGST when u are purchasing from State to another state then it's IGST when we purchase From Union territory Like Delhi Jammu and Kashmir Pondicherry then It's is CGST & UTGST
Sir apka 1st point confusing hai, GST Portal hmesha CGST ki Lability sabse pehle CGST ke input se hi adjust krta hai uske baad IGST input se vo bhi auto populated hokr. SGST me bhi same esa hi hota hai, Sabse pehle SGST ke input se adjust hoga fir IGST input se.
Utilisation pe
where to show ineligible ITC under RCM and IMPORTS
Interest will be changed on ITC utilisation
Sir one query can we adjust igst payable from cgst n sgst proportionately
In any manner
YOUR SEND ITC CHAT IN 4TH POINT IS WRONG SETOFF PLEASE CHECK DETAILS
interest on utilized
Claim itc
Interest will be charged on itc claim
Itc utilisation par interest lagega
How can i remit un utilised ITC wrongly taken