Tag Archives: Rule 9 GST ITC

Example Rule 9 GST Input Tax Credit Rules – Reversal of ITC on Inputs & Capital Goods

By | May 26, 2017

Reversal of Input Tax Credit on Inputs and Capital Goods A registered person needs to Reverse the Input tax Credit on Inputs and Capital Goods  , If person who has availed Input Tax Credit and  Opt for Composition Scheme , or  Where the goods or services or both supplied by him become wholly exempt or… Read More »

Correct Rule 9 of GST ITC- Reversal of Credit for capital goods lying in stock – ICAI – GST Rules Issue 26

By | May 11, 2017

Manner of reversal of credit under special circumstances Rule 9(1) of draft GST ITC Rules provides that amount of input tax credit, relating to inputs lying in stock, inputs contained in semi- finished and finished goods lying in stock, and capital goods lying in stock, for the purposes of sub-section (4) of Section 18 or sub-section… Read More »