Category: Indirect Tax

Section 21 – Manner of recovery of credit distributed in excess of CGST ACT, 2017 Where the Input Service Distributor distributes the credit in contravention of the provisions contained in section 20 resulting in excess distribution of credit to one or more recipients of credit, the excess credit so distributed shall be recovered from such … Continue reading “Section 21 – Manner of recovery of credit distributed in excess of CGST ACT, 2017”

Section 20 – Manner of distribution of credit by Input Service Distributor of CGST ACT, 2017 (1) The Input Service Distributor shall distribute the credit of central tax as central tax or integrated tax and integrated tax as integrated tax or central tax, by way of issue of a document containing the amount of input … Continue reading “Section 20 – Manner of distribution of credit by Input Service Distributor of CGST ACT, 2017”

Section 19 – Taking input tax credit in respect of inputs and capital goods sent for job work of CGST ACT, 2017 (1) The principal shall, subject to such conditions and restrictions as may be prescribed, be allowed input tax credit on inputs sent to a job worker for job work. (2) Notwithstanding anything contained … Continue reading “Section 19 – Taking input tax credit in respect of inputs and capital goods sent for job work of CGST ACT, 2017”

Section 18 – Availability of credit in special circumstances of CGST ACT, 2017 (1) Subject to such conditions and restrictions as may be prescribed— (a) a person who has applied for registration under this Act within thirty days from the date on which he becomes liable to registration and has been granted suchregistration shall be … Continue reading “Section 18 – Availability of credit in special circumstances of CGST ACT, 2017”

Section 17 – Apportionment of credit and blocked credits of CGST ACT, 2017 (1) Where the goods or services or both are used by the registered person partly for the purpose of any business and partly for other purposes, the amount of credit shall be restricted to so much of the input tax as is … Continue reading “Section 17 – Apportionment of credit and blocked credits of CGST ACT, 2017”

Section 16 – Eligibility and conditions for taking input tax credit of CGST ACT, 2017 (1) Every registered person shall, subject to such conditions and restrictions as may be prescribed and in the manner specified in section 49, be entitled to take credit of input tax charged on any supply of goods or services or … Continue reading “Section 16 – Eligibility and conditions for taking input tax credit of CGST ACT, 2017”

Section 15 – Value of taxable supply of CGST ACT, 2017 (1) The value of a supply of goods or services or both shall be the transaction value, which is the price actually paid or payable for the said supply of goods or services or both where the supplier and the recipient of the supply … Continue reading “Section 15 – Value of taxable supply of CGST ACT, 2017”

Section 14 – Change in rate of tax in respect of supply of goods or services of CGST ACT, 2017 Notwithstanding anything contained in section 12 or section 13, the time of supply, where there is a change in the rate of tax in respect of goods or services or both, shall be determined in … Continue reading “Section 14 – Change in rate of tax in respect of supply of goods or services of CGST ACT, 2017”

  Section 13 – Time of supply of services of CGST ACT, 2017 (1) The liability to pay tax on services shall arise at the time of supply, as determined in accordance with the provisions of this section. (2) The time of supply of services shall be the earliest of the following dates, namely:— (a) … Continue reading “Section 13 – Time of supply of services of CGST ACT, 2017  ”

Section 12 – Time of supply of goods of CGST ACT, 2017 (1) The liability to pay tax on goods shall arise at the time of supply, as determined in accordance with the provisions of this section. (2) The time of supply of goods shall be the earlier of the following dates, namely:— (a) the … Continue reading “Section 12 – Time of supply of goods of CGST ACT, 2017”