Input Tax Credit and Its Utilization – Test 3

Where capital goods are used or intended to be used for non-business purpose or exclusively used for exempt supply of goods or services then, how much benefit shall be avail in respect of ITC son such capital goods ?

A banking company or a financial institution including a NBFC, engaged in supplying services by way of accepting deposits, extending loans or advances shall have the option to avail of, every month, an amount equal to _____ of the eligible input tax credit on inputs, capital goods and input services in that month and the rest shall lapse.

Blocked credit means, goods or services or both on which input tax credit

Whether input tax credit on motor vehicle is available ?

In which of the following cases, input tax credit on motor vehicle is available ?

Determination the cases in which input tax credit on motor vehicle is available

In which of the following cases input tax credit is not available ?

In which of the following cases input tax credit is not available ?

Whether ITC is available in case of outdoor catering service is used by a registered taxable person for making an further supply of outdoor catering services ?

Whether ITC is available in case beauty services is used by a registered taxable person as an element of a taxable composite or mixed supply ?

Ms.Priyanka, a registered taxable person provides beauty treatment service to Mr.Nick, a registered taxable person.

Whether Mr.Nick can claim ITC on beauty services received by him ?

Janvi is engaged in providing beauty treatment services. During the peak time of marriage, she availed the beauty treatment services from Priya for which Priya raised an invoice on Janvi of Rs.23,600 including GST of Rs.3,600. Whether Janvi can claim IYC on services received by her ?

Mr.Tejpal, a registered supplier of fabric, purchased a Honda car for his business.

Whether Mr.Tejpal can claim ITC on Honda car purchased by him ?

Pappu, a registered taxable person purchased some grocery items worth Rs.15,000 for his office.

Determine, whether Pappu can claim ITC on grocery items ?

Hemant clinic, a registered taxable person provides health treatment services to the employees of Chopra Ltd worth Rs.1,00,000 on behalf of Chopra Ltd. for which it raised on invoice to the company on 01.08.2018.

Whether Chopra Ltd. can claim ITC on healthy treatment service received by it ?

Krishna Carriage, a Goods Transport Agency (GTA) , purchased  a motor vehicle worth Rs.10,00,000 from Raheja Ltd., a registered taxable person on 16.10.2019, for its business. It used such vehicle for transportation of goods.

Whether Krishna Carriage can claim ITC on motor vehicle purchased by it ?

Sardana Ltd, a registered taxable person is a dealer of Bajaj Bikes. It purchased 50 bikes from Bajaj Ltd. worth Rs.29,50,000 on 10.10.2018 which includes IGST of Rs.4,50,000. Sardana Ltd. further sold bikes to its customers

Whether Sardana Ltd can claim ITC on bikes purchased by it ?

Chola Ltd, a cab service provider purchased a brand new cr of Rs.7,00,000 for its business.

Whether chola Ltd. can claim ITC on car purchased by him ?

Whether ITC is available in respect of input tax paid by the company on mobile phones/laptops given to employees ?

Jet Airways is engaged in supply of passengers transportation service by air.It avails outdoor catering services from Hotel Shahnaz to provide its passengers the facility of food and beverages on 20.07.2018. Hotel Shahnaz raised in invoice for such supply on 20.07.2018 of Rs.52,500 including GST of Rs.2,500.

Whether ITC is available on such supply to Jet Airways ?

Maruthi Driving School purchased a brand new Maruthi car for imparting training on driving worth Rs.12,80,000 including GST of Rs.2,80,000 on 31.12.2018.

Whether Maruthi Driving School can claim ITC on such car ?

Whether ITC is available in respect of membership of a club/health and fitness centre ?

Arinjay Academy has taken memberships of a club for its employee from Royal Club raised on invoice of amounting Rs.17,250 including GST of Rs.2,250 on Arinjay Academy on 01.11.2018.

Whether ITC is available to Arinjay Academy ?

Whether ITC is available in respect of Rent-a-cab services ?

Whether ITC is available in respect of Rent-a-cab services, where the Government notifies it as a services which are obligatory for an employer to provide to its employees under any law for the time being in force ?

Whether ITC is available in respect of Rent-a-cab services, where such inward supply of services is used by a registered person for making an outward taxable supply of the same category of goods or services or both ?

Whether ITC is available in respect of Rent-a-cab services, where such inward supply of services is used as part of a taxable composite or mixed supply ?

Whether ITC is available in respect of Life Insurance services ?

Whether ITC is available in respect of Life Insurance services, where such inward supply of services is used by a registered person for making an outward taxable supply of the same category of goods or services or both ?

Jitender is engaged in providing Rent-a-cab services. During peak hours with a view to cater to the demand of large number of customers, he availed the Rent-a-cab services from Pushpinder for which Pushpinder raised in invoice on Jitender of Rs.11,200 including GST of Rs.1,200. Whether Jitender can claim ITC on services received by Him ?