FAQ 4. What documents will not be made available in IMS but will be part of GSTR-2B? Records flowing from form GSTR 5 (NRTP), GSTR 6 (ISD) ICEGATE documents Output RCM records Document where ITC is ineligible due to POS rules & Section 16(4) of CGST Act (time limit) Documents ...
In my opinion after the study of act and case law understanding, Interest will be applicable on ITC reversal if its wrongly reduced the Output tax liability or claim Ineligible ITC as per Section 16 but if Eligible ITC has not utilized for reducing of Output Tax Liability, only shown in Cre...
Under theGoods & Service Taxregime, ITC can be availed by every registered taxable person on all inputs used or intended to be used in the course of or for the furtherance of business – be it goods or services. Similarly, ITC will also be available on capital goods used in the course...
Budget 2023 had stated that the Clean Electricity ITC would only be available in provinces or territories in which a “competent authority” within the province has made a commitment to the Government of Canada that the federal funding will be used to lower electricity bills within the ...