In this session we have discuss each and every aspect of Input Tax Credit in GST. We have analyze the sections, rules, notifications, amendment and notifications till date. Under GST regime Input Tax Credit (commonly known as ITC or credit) have an important role and can be said as a backbone of GST.

What is input Tax Credit?
Input tax credit (ITC) is the tax paid by the buyer on purchase of goods or services. Such tax which is paid at the purchase when reduced from liability payable on outward supplies is known as input tax credit. In other words, input tax credit is tax reduced from output tax payable on account of sales.

Who need to watch this session?
We have covered everything related to ITC in this session from beginning to professional level. Hence this session will be helpful for all including
Tax professional and consultant
CA, CS, CMA & Advocates
Student of ICAI, ICMAI & ICSI
Law students
Student of B.com and M.com
Accountant

⏰What is the content of this session?
This is 7 hour comprehensive session covering all topics related to input tax credit. However for the ease you may also refer below time stamp
0:00 Concept is ITC in GST?
32:33 Sec 16 Eligibility & Conditions for ITC
59:13 Clause (aa) of sec 16(1) added by FA 2021
1:55:33 Summary of sec 16
2:00:20 Sec 17 apportionment & Block Credits
2:26:18 Sec 17(5) Block Credits in GST
3:41:45 Rule 42 apportionment of input & input services
4:03:04 Rule 43 apportionment of capital goods
4:11:46 Sec 18 ITC in special circumstances
4:19:03 Sec 18(1)(a) ITC availment in case of mandatory registration
4:25:38 Sec 18(1)(b) ITC availment in case of voluntarily registration
4:28:52 Sec 18(1)(c) ITC availment from composite levy to regular
4:33:50 Sec 18(1)(d) ITC availment from exempt to taxable supply
4:37:16 ITC Forms in GST
4:49:50 Remaining provisions of sec 18
5:05:09 Sec 18(6) Supply of capital goods or plant and machinery
5:22:43 Sec 19 ITC on input or capital goods on goods send for Job work
5:32:53 Sec 20 ITC distribution by ISD
5:41:03 Recovery of ITC from ISD
5:42:53 List of sections and rules related to ITC
5:45:19 Rule 36(4) 5% provisional ITC
5:56:25 Manner and utilization of ITC
6:14:43 Rule 86A Condition of use of electronic credit ledger
6:19:55 Rule 86B Restriction on use of electronic credit ledger
6:28:52 How scam and bill treading happen in GST
7:19:52 Outro

‍How can i access other detail videos of GST?
You can join our complete course in GST covering all practical aspect along with provisions and update. You may enroll through this link https://fintaxpro.in/courses/'>https://fintaxpro.in/courses/

Where are Notes of this sessions?
You can download all the notes through this link https://bit.ly/3kuHOhb

Books i refer for GST
Taxmann’s GST Ready Reckoner https://amzn.to/3mIYOTG
Taxmann's GST Practice Manual https://amzn.to/38DGS4R
GST Bare Act (Updated) https://amzn.to/3gJEg9K
Taxmann's GST on Works Contract & Real Estate https://amzn.to/2V0KxX6

Books i refer for Income Tax
Practical Approach to Income Tax (Dr. Girish Ahuja) https://amzn.to/38op9Ox
Income Tax including Tax Planning & Management (Updated) https://amzn.to/3yvtj1H
TDS with Advance Tax and Refunds (Taxman) https://amzn.to/3Bl5AmE
Direct Taxes Ready Reckoner https://amzn.to/3zoroxb

Cheers Folks
Thanks for Watching :)
Team Fintaxpro

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Disclaimer Although all provisions, notifications, updates, and live demos are analyzed indepth 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 YouTube videos.

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