Solved Queries

Q. 748 Cases where ITC is not allowed on imports clearance. 

Ans. ITC cannot be claimed for transactions that are not for business purposes.

Q. 747 As per your section 9 2.8 Analytical Review Recipient of service is required to pay tax under reverse charge mechanism compulsorily and such taxpayers have to get registered mandatorily and the threshold exemption in respect of registration is not applicable on them. Tax under reverse charge mechanism cannot be paid by utilizing input tax credit and has to be paid in cash. Tax payer can claim input tax credit of tax paid on inward supplies under reverse charge mechanism once the recipient makes payment of tax in cash. Recipient of supply who is liable to pay tax under RCM is required to register compulsorily under GST even if turnover is less than 20 lakhs/10 lakhs/40 lakhs as specified. Please provide the basis of input received on subject to payment of RCM Liability 

Ans. Yes, the refund can be claimed but refund is to be applied within a period of 2 years from the relevant date

Q. 746 Is GST ITC available on clearing & forwarding charges? 

Ans. Yes, ITC available.

Caution: The above opinion is framed based on the limited information available and merely a personal opinion. We will not be responsible for any damage or loss in whatever manner consequent to any action taken on the basis of any content of this opinion. We suggest you take a detailed opinion for better clarity based on extensive information and research thereof.

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