{"id":1418,"date":"2019-08-21T12:05:43","date_gmt":"2019-08-21T06:35:43","guid":{"rendered":"https:\/\/aktassociates.com\/blog\/?p=1418"},"modified":"2019-08-27T10:56:45","modified_gmt":"2019-08-27T05:26:45","slug":"input-tax-credit-itc","status":"publish","type":"post","link":"https:\/\/aktassociates.com\/blog\/input-tax-credit-itc\/","title":{"rendered":"Input Tax Credit &#8211; ITC"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_66_1 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >In this article, we will discuss about...<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #1e73be;color:#1e73be\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #1e73be;color:#1e73be\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/aktassociates.com\/blog\/input-tax-credit-itc\/#Introduction\" title=\"Introduction\">Introduction<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/aktassociates.com\/blog\/input-tax-credit-itc\/#In_this_article_we_will_understand_the_following\" title=\"In this article, we will understand the following:\">In this article, we will understand the following:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/aktassociates.com\/blog\/input-tax-credit-itc\/#Meaning_of_Input_Tax_Credit_ITC\" title=\"Meaning of Input Tax Credit (ITC):\">Meaning of Input Tax Credit (ITC):<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/aktassociates.com\/blog\/input-tax-credit-itc\/#Eligibility_and_Conditions_for_availing_Input_Tax_Credit_Section_16\" title=\"Eligibility and Conditions for availing Input Tax Credit (Section 16):\">Eligibility and Conditions for availing Input Tax Credit (Section 16):<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/aktassociates.com\/blog\/input-tax-credit-itc\/#Below_are_the_exceptions_where_the_condition_of_180_days_is_not_applicable\" title=\"Below are the exceptions where the condition of 180 days is not applicable:\">Below are the exceptions where the condition of 180 days is not applicable:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/aktassociates.com\/blog\/input-tax-credit-itc\/#SECTION_175_6_Blocked_Credit_ie_No_ITC_shall_be_allowed_to_Recipient_in_respect_of_the_following_supplies\" title=\"SECTION: 17(5) &amp; (6): Blocked Credit i.e., No ITC shall be allowed to Recipient in respect of the following supplies:\">SECTION: 17(5) &amp; (6): Blocked Credit i.e., No ITC shall be allowed to Recipient in respect of the following supplies:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/aktassociates.com\/blog\/input-tax-credit-itc\/#Let_us_discuss_the_Manner_of_the_utilization_of_ITC\" title=\"Let us discuss the Manner of the utilization of ITC:\">Let us discuss the Manner of the utilization of ITC:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/aktassociates.com\/blog\/input-tax-credit-itc\/#Apportionment_of_ITC_between_taxable_and_exempted_supplies\" title=\"Apportionment of ITC between taxable and exempted supplies:\">Apportionment of ITC between taxable and exempted supplies:<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Introduction\"><\/span><strong>Introduction<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">GST is a win-win situation for the entire country. It brings benefit to all the stakeholders of the industry, Government and the end consumer. One of the major benefits to the taxpayer is the\u00a0 \u201cElimination of Multiple taxes and double taxation\u201d. In the earlier tax regime, when goods were manufactured and sold, then both Excise duty (Central) and State Level VAT levied. Also, the credit of one could not be set off against the other because CENTVAT is central level tax and VAT is a state-level tax. This caused double taxation on the same goods. After application of GST, the majority of the State level taxes have been subsumed into GST. The GST regime promises seamless flow of tax credit on goods and services across the entire supply chain with some exceptions like supply under composition Scheme.<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-1424 aligncenter\" src=\"https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2019\/08\/Input-tax-credit-Blog-image.jpg\" alt=\"Input tax credit\" width=\"700\" height=\"400\" srcset=\"https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2019\/08\/Input-tax-credit-Blog-image.jpg 700w, https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2019\/08\/Input-tax-credit-Blog-image-300x171.jpg 300w, https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2019\/08\/Input-tax-credit-Blog-image-20x11.jpg 20w\" sizes=\"(max-width: 700px) 100vw, 700px\" \/><\/p>\n<h2><span class=\"ez-toc-section\" id=\"In_this_article_we_will_understand_the_following\"><\/span><strong>In this article, we will understand the following:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Meaning of ITC<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Conditions to be satisfied to avail the ITC<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Specific supplies in which ITC is not available<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Manner of the utilization of ITC<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Electronic Ledgers<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Concept of apportionment of ITC<\/span><\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Meaning_of_Input_Tax_Credit_ITC\"><\/span><strong>Meaning of Input Tax Credit (ITC):<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><b>Input Tax: <\/b><span style=\"font-weight: 400;\">Input Tax in relation to registered person is the Central tax (CGST), State tax(SGST), Integrated tax (IGST) or Union Territory tax(UTGST), but does not include composition levy tax charged on the supply of any goods or services made to him.<\/span><\/p>\n<p><b>Output Tax: <\/b><span style=\"font-weight: 400;\">Output Tax is the tax payable by a Registered person on the supply of goods or services made by him or his agent but shall not include tax paid by him under reverse charge.<\/span><\/p>\n<p><b>Input Tax Credit: <\/b><span style=\"font-weight: 400;\">Input Tax credit is the tax credit of the above input taxes paid by a registered person on the supply of any goods or services made to him. Such credit shall be available to him at the time of making payment of the output tax on the outward supply.<\/span><\/p>\n<p><strong>Below is the example of explaining the above concepts.<\/strong><\/p>\n<p><span style=\"font-weight: 400;\"><strong>For Example,<\/strong>\u00a0Mr. X is supplying the goods of Rs.1,18,000 (Inclusive of GST of Rs.18,000) to Mr. Y. and Mr. Y further sold the goods to Mr. Z\u00a0 for Rs.1,77,000 (Inclusive of GST of Rs.27,000). In such a case, the net output liability of Mr. Y shall be:<\/span><\/p>\n<table>\n<tbody>\n<tr>\n<td><span style=\"font-weight: 400;\">Input Tax Paid by Mr.Y (ITC)<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Output Tax Payable by Mr.Y (Output Tax Liability)<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Net Tax Output Tax Payable after adjusting ITC<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">\u20b918000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">\u20b927000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">\u20b99000 (\u20b927000-\u20b918000)<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><span style=\"font-weight: 400;\">In the given case, an input tax credit of \u20b918000 is utilized for the payment of Output Tax Liability of \u20b927000.\u00a0<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Eligibility_and_Conditions_for_availing_Input_Tax_Credit_Section_16\"><\/span><b>Eligibility and Conditions for availing Input Tax Credit (Section 16):<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><b>Obtain Invoice Copy<\/b><span style=\"font-weight: 400;\">: <\/span><b>(Section 16(2)(a)):<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The recipient should receive an invoice issued by the supplier.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">If the supply is received from an unregistered dealer then the registered person will himself\u00a0 raise an invoice and pay tax under RCM\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Debit Note issued by the supplier<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Bill of entry as per Customer Act.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Revised Invoice, if any.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Input Service Distributor invoice.<\/span><\/li>\n<\/ul>\n<p><b>1. Receipt of Goods or service: (Section 16(2)(b)):<\/b><\/p>\n<ul>\n<li><span style=\"font-weight: 400;\">The goods or services should be received by the recipient himself or<\/span><\/li>\n<li><span style=\"font-weight: 400;\">The goods or <\/span>services<span style=\"font-weight: 400;\"> should be received by a third party on the directions of the recipient.<\/span><\/li>\n<\/ul>\n<p><b>For Example,<\/b><span style=\"font-weight: 400;\"> Mr.A is a trader who places an order on Mr.B for the consignment of shoes. Mr.A receives buying orders from Mr.C for the same quantity of shoes. Mr.A instructs\u00a0 Mr.B to deliver the goods to Mr.C, and in turn, Mr.A raises the invoice on Mr.C. Though goods are not physically delivered to Mr.A, he shall be eligible to claim the credit. This Model is called \u201c<\/span><b>Bill to Ship to\u201d Model<\/b><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><b>[Note: <\/b><em>An explanation regarding \u201cBill to ship to\u201d Model, in case of services, has been added in the CGST Amendment Act, 2018 which states that w.e.f. 01.02.2019. As per the explanation the services shall be deemed to be received by the registered person if the third person receives such services on the directions of the registered person.<\/em><strong>]<\/strong><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">If goods are received in installments, then the recipient can claim the ITC only upon the receipt of the last lot.<\/span><\/li>\n<\/ul>\n<p><b>For Example, <\/b><span style=\"font-weight: 400;\">Mr.A entered into an agreement with Mr.B for the supply of 1000 pens over a period of 6 Months and charged Rs.11,800 (Inclusive of GST @ 18%) on July 19. Mr.B raised the invoice on July 19 but the supply of pens continued to be delivered till Dec 19. In this case, although Mr.A has made the full payment the amount including\u00a0 GST on July 19, he will be eligible to take the credit upon the receipt of the last lot i.e. Dec 19.<\/span><\/p>\n<p><b>2.Payment of Tax to the government: (Section 16(2)(C)):<\/b><\/p>\n<p><span style=\"font-weight: 400;\">\u00a0For claiming of the ITC by the recipient, it is necessary that the supplier has paid the tax collected on such supply through Cash or utilization of ITC.<\/span><\/p>\n<p><b>3. Filing of valid return: (Section 16(2)(d)):<\/b><\/p>\n<p><span style=\"font-weight: 400;\">\u00a0To avail the ITC, the recipient is required to file a valid return in form GSTR-3 under section 39 of CGST Act, 2017.<\/span><\/p>\n<p><b>4. Payment to be made within 180 days:<span style=\"font-weight: 400;\"> The registered person must make the payment of the value(including GST), of goods or service or both within 180 days from the date of issue of the invoice. In case, the recipient fails to make the payment within 180 days then the credit availed by the recipient on such goods shall be added to his output liability of the month immediately following the period of 180 days. Interest shall be calculated from the date of claiming the ITC till the date on which credit is added to output tax liability. However, once the payment is made by the reception he will again become eligible for the ITC without any time limit. If proportionate payment is made then proportionate ITC will be available.<\/span><\/b><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Below_are_the_exceptions_where_the_condition_of_180_days_is_not_applicable\"><\/span><b>Below are the exceptions where the condition of 180 days is not applicable:<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li><span style=\"font-weight: 400;\">Supply made under Reverse charge Mechanism<\/span><\/li>\n<li><b><span style=\"font-weight: 400;\">Deemed supply made without consideration. As per Section 7(1)(c) read with the schedule I of CGST Act, 2017, there are certain transactions that have been specified in schedule shall be deemed to be a supply of goods or services or both even though there is no consideration involved. <\/span>For Example:<span style=\"font-weight: 400;\"> If there is a supply of goods or services or both between \u201cRelated Persons\u201d or between \u201cDistinct Persons\u201d, such supply shall qualify as supply even though it is made without consideration, provided it is made in the course of or furtherance of business.<\/span><\/b><\/li>\n<\/ul>\n<p><strong>5<\/strong>. <strong>Use for Business:<\/strong><span style=\"font-weight: 400;\"> Inward supply must be used or intended to be used for business or furtherance of business.<\/span><\/p>\n<p><b>6. No ITC if depreciation claimed (Section 16(3)): <span style=\"font-weight: 400;\">If the registered person is taking the credit of ITC on capital goods then he shall not be eligible to claim depreciation on the same assets and vice versa. That means dual benefit cannot be available in the <a href=\"https:\/\/aktassociates.com\/blog\/income-tax-return-filing\/\">Income Tax<\/a> Act and GST Act simultaneously. In other words, one can either claim depreciation on the tax component or ITC on such tax paid under GST laws.<\/span><\/b><\/p>\n<p><b>7. The time limit for availing the ITC: <span style=\"font-weight: 400;\">The due date for availing the ITC is <\/span>earlier<span style=\"font-weight: 400;\"> of the following<\/span>(Section 16(4)).<\/b><\/p>\n<p><span style=\"font-weight: 400;\">The due date for filing of September Month return in the next financial year<\/span><\/p>\n<p><span style=\"font-weight: 400;\">OR<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Date of <a href=\"https:\/\/aktassociates.com\/blog\/gstr-9-everything-you-want-to-know-about-gst-annual-return\/\">filing of Annual Return<\/a><\/span><\/p>\n<p><b>8. Outward supply should be Non-Exempted: <span style=\"font-weight: 400;\">\u00a0ITC can be claimed only in respect of an outward supply made by the recipient which is not exempted. i.e. it should be taxable or zero-rated supply.<\/span><\/b><\/p>\n<p><span style=\"font-weight: 400;\">Till now we have discussed the conditions to be followed for availing the ITC. Now we shall understand the supplies on which the ITC is blocked.\u00a0<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"SECTION_175_6_Blocked_Credit_ie_No_ITC_shall_be_allowed_to_Recipient_in_respect_of_the_following_supplies\"><\/span><b>SECTION: 17(5) &amp; (6): Blocked Credit i.e., No ITC shall be allowed to Recipient in respect of the following supplies:<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><b>\u00a0<\/b><span style=\"font-weight: 400;\">As per section 17(5) Credit of following inward supplies shall not be available to the recipient subject to some exceptions:<\/span><\/p>\n<p><b>1. Motor Vehicle:<span style=\"font-weight: 400;\"> Generally input tax credit of passenger motor vehicle shall not be allowed to the recipient. however, for certain class of persons input tax credit of passenger motor vehicle will be available who provides:<\/span><\/b><\/p>\n<ul>\n<li><strong>For further supply of such motor vehicle:<\/strong><\/li>\n<\/ul>\n<p><strong>For Example, <\/strong><span style=\"font-weight: 400;\">ITC on cars purchased by a car dealer for sale to customers is allowed because in this case, they have purchased for further supply of such motor vehicle.<\/span><\/p>\n<ul>\n<li><b>For passenger transportation or goods transportation service:\u00a0<\/b><\/li>\n<\/ul>\n<p><strong>For Example, <\/strong><span style=\"font-weight: 400;\">ITC on cars purchased by a company engaged in renting out cars for transportation of passengers is allowed.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u00a0ITC on trucks purchased by a company for transportation of its finished goods is allowed.<\/span><\/p>\n<ul>\n<li><b>For imparting training on motor driving or flying service:\u00a0<\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">For Example, ITC on cars purchased by a car driving school is allowed.<\/span><\/p>\n<p><b>2. Personalized Services: <span style=\"font-weight: 400;\">No ITC would be available on the following supplies:<\/span><\/b><\/p>\n<ul>\n<li><span style=\"font-weight: 400;\">Food &amp; Beverages<\/span><\/li>\n<\/ul>\n<ul>\n<li><span style=\"font-weight: 400;\">Outdoor catering<\/span><\/li>\n<\/ul>\n<ul>\n<li><span style=\"font-weight: 400;\">Beauty treatment service<\/span><\/li>\n<\/ul>\n<ul>\n<li><span style=\"font-weight: 400;\">Health service<\/span><\/li>\n<\/ul>\n<ul>\n<li><span style=\"font-weight: 400;\">Cosmetic &amp; plastic surgery<\/span><\/li>\n<\/ul>\n<ul>\n<li><span style=\"font-weight: 400;\">Life insurance<\/span><\/li>\n<\/ul>\n<ul>\n<li><span style=\"font-weight: 400;\">Health insurance service<\/span><\/li>\n<\/ul>\n<ul>\n<li><span style=\"font-weight: 400;\">Rent a Cab<\/span><\/li>\n<\/ul>\n<p><b>In all the above services, the ITC is not available to the supplier however there are some exceptions that means if any of the following conditions are satisfied then the ITC of above services shall be available.<\/b><\/p>\n<ul>\n<li><b>If the service is being provided to a similar line of business:\u00a0<\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\"><strong>Example1:<\/strong> Although ITC on Life insurance policy is not available if the LIC has taken reinsurance from HDFC insurance then the LIC shall be eligible to take the credit of GST charged by the HDFC on his invoice.<\/span><\/p>\n<p><span style=\"font-weight: 400;\"><strong>Example 2:<\/strong> AB &amp; Co. a caterer from Amritsar has been awarded a contract for catering in<\/span> a marriage to be held at Ludhiana. AB &amp; Co. has given the contract for the supply of <span style=\"font-weight: 400;\">snacks, to be served in the marriage, to CD &amp; Sons, a local caterer of Ludhiana. ITC on such outdoor<\/span> catering services availed by AB &amp; Co. will be allowed.<\/p>\n<ul>\n<li style=\"font-weight: 400;\"><b>A mandatory requirement by the Govt:<\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">If the government has made it mandatory for the supplier to make such supply. <strong>For Example,<\/strong> The Government has made it mandatory for all the employers to provide cab services for ladies working in the Nightshift. Hence although the ITC on renting a cab is not available in the above case, employers shall be eligible to take the ITC on the GST charged by the cab service provider.<\/span><\/p>\n<p><b>3.Membership of club, Health or Fitness center, Travel Benefit to an employee for their personal trip:<span style=\"font-weight: 400;\"> No ITC is available in these services<\/span><\/b><\/p>\n<p><b>4.Works Contract Services for the construction of immovable property: <span style=\"font-weight: 400;\">Works contract means a contract for building, construction, repairs or maintenance of an immovable property wherein there is a transfer of property in goods(whether as goods or in some other form) is involved in the execution of such a contract.<\/span><\/b><\/p>\n<p><span style=\"font-weight: 400;\">As works contract involves both goods and services, it is considered as a supply of services as per Schedule II.\u00a0<\/span><\/p>\n<p><b>ITC in respect Works Contract shall not be available except when:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">When the service is in utilized for plant and machinery\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">When it is used as an input service for providing a further supply of similar service i.e. works contract service. <strong>For example,<\/strong> DLF providing a service to Amarpali as subcontractor then Amarpali shall be eligible to take the credit of the GST charged by DLF<\/span><\/li>\n<\/ul>\n<p><b>5. Other Supplies on which ITC shall not be available:<\/b><\/p>\n<ul>\n<li><span style=\"font-weight: 400;\">Inward supplies on which tax has been paid under Composition Scheme<\/span><\/li>\n<li><b><span style=\"font-weight: 400;\">Inward supplies of Non-Resident Taxable Person except goods imported by him<\/span><\/b><\/li>\n<li><span style=\"font-weight: 400;\">Goods or services used for personal consumption<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Goods which has been lost, destroyed, theft or disposed of by way of gift or a free sample.<\/span><\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Let_us_discuss_the_Manner_of_the_utilization_of_ITC\"><\/span><b>Let us discuss the Manner of the utilization of ITC:<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The tax paid on the inward supplies by a registered person shall be credited to the electronic credit ledger of the registered person. This credit shall be utilized for meeting the output tax liability of the registered person in the following <\/span><b>manner and order:<\/b><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-1434 aligncenter\" src=\"https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2019\/08\/Input-tax-credit-26_08_2019.png\" alt=\"Input tax credit \" width=\"797\" height=\"762\" srcset=\"https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2019\/08\/Input-tax-credit-26_08_2019.png 797w, https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2019\/08\/Input-tax-credit-26_08_2019-300x287.png 300w, https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2019\/08\/Input-tax-credit-26_08_2019-768x734.png 768w, https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2019\/08\/Input-tax-credit-26_08_2019-20x20.png 20w\" sizes=\"(max-width: 797px) 100vw, 797px\" \/><\/p>\n<p><strong>Note:<\/strong><\/p>\n<ul>\n<li><span style=\"font-weight: 400;\">The input tax credit would be shown in the electronic credit ledger on the <a href=\"https:\/\/www.gst.gov.in\/\" target=\"_blank\" rel=\"noopener noreferrer\">GST Portal<\/a>.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The ITC can be utilized exclusively for the setting off the output tax liability. It shall not be utilized for payment of interest or penalties. Interest and penalties have to be paid through electronic cash ledger.\u00a0<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Once registered on the GST portal, a person shall hold 3 ledgers\u00a0 which are\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Electronic credit ledger, Electronic cash ledger, and Electronic liability Register.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Electronic credit ledger will provide all the input tax credit information.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Electronic Cash Ledger will provide all the deposits made in cash, TDS\/TCS made on account of the taxpayer and summary of payments on account of tax, interest, penalties, and fees.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Electronic liability register will provide it shows the net amount payable by the taxpayer for a particular month.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\"><strong>[Note:<\/strong> <em>For payment of output tax liability, the input tax credit available in the Electronic Credit Ledger shall be utilized first. If there is any shortfall, the same can be met by depositing cash in electronic cash ledger. The balance available in the electronic cash ledger can be utilized for the payment of output tax remaining after utilization of input tax credit, but the balance in Electronic Credit ledger reflecting ITC cannot be utilized for the payment of penalties, interest, and fees.<\/em><strong>]<\/strong><\/span><\/p>\n<p><a href=\"https:\/\/aktassociates.com\/business-compliance\/tax-compliance\/gst-return-filling\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-1261 aligncenter\" src=\"https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2019\/06\/Get-file-your-GST-Return-1.png\" alt=\"Get file your GST Return\" width=\"700\" height=\"150\" srcset=\"https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2019\/06\/Get-file-your-GST-Return-1.png 700w, https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2019\/06\/Get-file-your-GST-Return-1-300x64.png 300w, https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2019\/06\/Get-file-your-GST-Return-1-20x4.png 20w\" sizes=\"(max-width: 700px) 100vw, 700px\" \/><\/a><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Apportionment_of_ITC_between_taxable_and_exempted_supplies\"><\/span><b>Apportionment of ITC between taxable and exempted supplies:<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">If any taxable person is making supplies of both taxable and Exempted goods or he is using the goods or services or both for business purposes or any other purpose, then the ITC shall also be apportioned between the taxable and exempted supplies.<\/span><\/p>\n<p><span style=\"font-weight: 400;\"><strong>For example,<\/strong> A registered person is engaged in the supply of taxable and exempted goods.ITC on inward supplies used for making exempted supplies shall not be allowed. This ITC attributable to the exempted supplies shall be calculated on the basis of the proportion of the exempted supplies to the total supplies.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Introduction GST is a win-win situation for the entire country. It brings benefit to all the stakeholders of the industry, &#8230; <\/p>\n<p class=\"read-more-container\"><a title=\"Input Tax Credit &#8211; ITC\" class=\"read-more button\" href=\"https:\/\/aktassociates.com\/blog\/input-tax-credit-itc\/#more-1418\">Read more<span class=\"screen-reader-text\">Input Tax Credit &#8211; ITC<\/span><\/a><\/p>\n","protected":false},"author":4,"featured_media":1423,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Conditions for availing the Input Tax Credit [ITC] and Blocked Credit<\/title>\n<meta name=\"description\" content=\"Meaning of Input Tax Credit, Conditions to be satisfied to avail the ITCBlocked Credit, Manner of distribution of credit, How to claim ITC, Concept of apportionment of ITC\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/aktassociates.com\/blog\/input-tax-credit-itc\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Conditions for availing the Input Tax Credit [ITC] and Blocked Credit\" \/>\n<meta property=\"og:description\" content=\"Meaning of Input Tax Credit, Conditions to be satisfied to avail the ITCBlocked Credit, Manner of distribution of credit, How to claim ITC, Concept of apportionment of ITC\" \/>\n<meta property=\"og:url\" content=\"https:\/\/aktassociates.com\/blog\/input-tax-credit-itc\/\" \/>\n<meta property=\"og:site_name\" content=\"AKT Associates\" \/>\n<meta property=\"article:published_time\" content=\"2019-08-21T06:35:43+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-08-27T05:26:45+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2019\/08\/INPUT-TAX-CREDIT-Feature-image-1.png\" \/>\n\t<meta property=\"og:image:width\" content=\"500\" \/>\n\t<meta property=\"og:image:height\" content=\"300\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"CA Arun Tiwari\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"CA Arun Tiwari\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"11 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/aktassociates.com\/blog\/input-tax-credit-itc\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/aktassociates.com\/blog\/input-tax-credit-itc\/\"},\"author\":{\"name\":\"CA Arun Tiwari\",\"@id\":\"https:\/\/aktassociates.com\/blog\/#\/schema\/person\/27565c59ca4857ec78a645bd21dca21d\"},\"headline\":\"Input Tax Credit &#8211; 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