Tag: GST

Section 43 of CGST Act 2017-Matching Reversal and Reclaim of Reduction in Output Tax Liability

(1) Matching of Credit Note with the corresponding Reduction in the Claim for Input Tax Credit [Section 43(1)] : The details of every credit note relating to outward supply furnished by a registered person (i.e. the supplier) for a tax period shall in such manner and within such time as […]

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Section 18 of CGST Act-Availability of Credit in Special Circumstances

1. Persons who are eligible to take Input Tax Credit (ITC) under Section 18(1) of CGST Act, 2017 Subject to such conditions and restrictions as may be prescribed under Rule 40, the following persons are eligible to take input credit— (A) Person already doing business before introduction of GST who requires […]

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