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input tax credit


MCQ’s in input tax credit for preparing CA Inter, CA IPCC, CA Final, CS executive, CS professional, CMA Inter, CMA Final, GST practitioner exam, competitive exams.

mock test in input tax credit

Subject :- GST for CA Final

Chapter :- Input Tax Credit  – Test 2

Questions :- 30


Under GST, input tax credit is provided throughout the value chain for creditable acquisition.

Input Tax Credit is considered as a cornerstone of GST.

To avail the benefit of ITC it is required that the person availing such benefit is registered under GST. An unregistered person is not eligible to take the benefit of ITC.

Sec 17 Central GST Act, 2017 : list of few situations where input tax credit will not be available:

  • Tax paid under Composition Scheme
  • Goods or services or both used for personal consumption
  • Goods lost, stolen, destroyed, written off or disposed of by way of gift or free samples
  • Goods or services or both received by a non-resident taxable person
  • Goods or services partly used for business purpose
  • Zero rated and Exempted Supplies
  • Motor Vehicle and other conveyance
  • Food and beverages, outdoor catering, beauty treatment, health services, cosmetic and plastic surgery
  • Membership of a club, health and fitness center
  • Rent-a-cab, life insurance and health insurance
  • Travel benefits extended to employees on vacation such as leave or home travel concession
  • Works contract services
  • Construction on own account

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GST input tax credit

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