GST input tax credit

Whether definition of Inputs includes capital goods.

Is it mandatory to capitalize the capital goods in books of Accounts?

Whether credit on inputs should be availed based on receipt of documents or receipt of goods

Whether the recipient can claim ITC on the basis of revised invoices.

Whether Input tax credit on Inputs and Capital Goods is allowed in one installment?

Input tax credit is available only when the purchase made is used in —————-

What are the prior conditions to claim input tax credit?

Can the taxable person under Composition Scheme claim input tax credit

Mr. A, non-resident taxable person bought goods from USA for the trade fair to be organized in Pune. At the customs, he paid IGST. Will he get the credit of the IGST paid?

Whether credit on capital goods can be taken immediately on receipt of the goods?

ITC avoids the —————-

Which of the following are covered in the definition of input tax?     i. Tax paid under RCM
ii. IGST on imports
iii. Taxes on composition levy
iv. CGST
Mark the correct option:

If the person makes export supplies or supplies to SEZ, will he be eligible to avail the ITC?

ITC is eligible only when it is——— ———-

The input tax credit on purchase invoice dated 2nd May 2017 was omitted to be taken. The accountant realized this mistake on 1st November 2018. Can he now claim the credit?

Comment: Supply of goods can be spread over a period of time, It is not necessary that all elements should be supplied at the same time

Mr. A placed an order with Mr. B of 20,000 pcs on 1st January 2017 and the same order is to be received on last day of every month i.e. 2,000 pcs per month shall be received in next 10 months. When can Mr. A can avail ITC?

If the goods are received in lots/installment, ——————

Mr. A placed an order with Mr. B in April 2018. He has
received the invoice and both of them has duly filed
the return along with the necessary tax payment.
But the goods were received in May 2018. When can
Mr. A claim the credit?

Which of the following statement is correct?

In which of the following situations, taxpayer needs to reverse the credit already taken?

In case supplier has deposited the taxes but the receiver has not received the documents, is receiver entitled to avail credit?

Mr. A purchased goods from Mr. B on 1st May, 2018 and fulfilled all the conditions for availing the ITC. He availed the credit in the May Month i.e. in its GSTR – 3B which was filed on 15th June, 2018. He made the payment to Mr. B on 31st December, 2018. Answer the following questions. Can recipient claim the credit even if he has not made the payment to supplier within 180 days?

In question 23, at what interest rate Mr. A need to repay the credit wrongly availed?

In question 23, after making the payment on 31st December 2018, can Mr. A reclaim input tax credit?

In question 23, is there any time limit for re-availing the credit?

Can the recipient avail the Input tax credit for the part payment of the amount to the supplier within one hundred and eighty days?

What should be the treatment of tax element in a capital asset?

A person has a single GST registration in respect of two different trade names. Can he set off input tax credit from one trade name against the output tax liability of the other?

In which of the following conditions the input tax credit will be available?