The author is a member of the Institute of Chartered Accountants of India, Institute of Cost and Works Accountants of India and the Institute of Company Secretaries of India. The academic record right from the college days was excellent. The author has received various scholarships and prizes from Institutions like JRD Tata Merit Scholarship, Narsee Monjee College Merit Scholarship, Sydnam Golden Jubilee’s Scholarship etc.
Before commencement of practice, the author has served in industry for six years in the field of indirect taxation. Since 1988 the author is practising in the field of indirect taxation only.
The author has contributed extensively in the field of indirect taxation in various seminars/lectures. The author is also faculty member in the colleges/institution for teaching the indirect taxation and is associated with various social organisations. The author has also written book on “Service Tax - How to Meet Your Obligations and GST on services,” which is very widely referred by Trade and Industry.
All staff members particularly CA Darshna Jani, Mrs. Shraddha Nikam and Mr. Bhavin Dubli of the author have provided immense help in writing of the book.
CHAPTER 39
CHAPTER 40
CHAPTER 41
CHAPTER 42
CONDITIONS, TIME LIMIT AND DOCUMENTS FOR AVAILMENT OF CREDIT
CHAPTER 43
COMMON INPUTS AND INPUT SERVICES FOR EXEMPTED AND TAXABLE SUPPLIES
CHAPTER 44
REMOVAL OF INPUT, CAPITAL GOODS AND WASTE INCLUDING FOR JOB-WORK
CHAPTER 45
*
PROCEDURES AND RECORDS FOR INPUT TAX CREDIT 2481*
CHAPTER 46
INPUT SERVICE DISTRIBUTOR
*See Volume 2.
*
i see para 41.3
ii see para 41.4
iii see para 41.5
iv see para 41.6
v see para 41.7
vi see para 41.8
vii see para 41.9
viii see para 41.10
ix para 41.11
x para 41.12
41.4-4a
Sequence of utilization
41.4-5 Manner of utilization of credit vide
i Disputed credit carried forward
ii Non-transition of blocked credit
2391
41.4-6 IGST to be utilized first vide vide
Para 41.4
Input tax Credit on account of Output liability Output liability on account of Central tax
Output liability on account of State tax/ Union Territory tax
(III) Input tax Credit on account of Integrated tax to be completely exhausted mandatorily -
Head
Input tax Credit on account of
Discharge of output liability on account of Integrated tax
Output Liability Input tax Credit
Discharge of output liability on account of Central tax
Discharge of output liability on account of State tax/Union Territory tax
Balance of Input Tax Credit
Input tax Credit on account of Integrated tax has been completely exhausted
Para 41.5
Input tax Credit on account of
Discharge of output liability on account of Integrated tax
Discharge of output liability on account of Central tax
Discharge of output liability on account of State tax/Union Territory tax
2392
Balance of Input Tax Credit
-
Input tax Credit on account of
Discharge of output liability on account of Integrated tax
Discharge of output liability on account of Central tax
Discharge of output liability on account of State tax/Union Territory tax
Balance of Input Tax Credit
Input tax Credit on account of Integrated tax has been completely exhausted
Para 41.6
41.6 One-to-One correlation not necessary
2394
41.6-1 No correlation with particular output required
Ichi Karkaria Ltd.
Bombay Dyeing ‘
CCE Dai
CCE
Kisan Products Ltd. CCE Bajaj Sevashram Ltd. CCE Nisha Conductors Collector and Rama Cables and Wires Ltd. Collector Pratap
Steels Ltd. CCE Bajaj Tempo Ltd.
CCE HMT CCECCE Motherson Sumi Electric Wires Shri Dnyaneshwar SSK CCE
PSL Corrosion Control CCE -
Indian Aluminium CCE
CCE National Trading Co
CCE Bajaj Tempo Ltd. ‘ ’ ‘ ’
vide viii -
Credit by assessee who is manufacturer as well as service provider
2395
Nahar Industrial Enterprises Ltd.
CCE Vardhman Spinning
S. S. Engineers CCE
CCE
Jyoti Structures Ltd CCE
Fragmentation of credit not required
Para 41.7 CCE
Forbes Marshall
Vardhman Spinning CCE
only if
Same principle applies to State Vat Hindustan Unilever Ltd State of Andhra Pradesh
Maxwroth Plywoods AC(CT)
41.7-1 Full credit of duty is available to recipient, even if less duty is paid or no duty is paid by supplier [this principle will not be applicable in GST, in view of provision in section 16(2)]
CCE Advance Diesels Engines
Amul Industries
Amul Industries
Para 41.7 2396
’
Kerala State Electronic Corpn CCE
Tirupati Cigarettes CCE
Eveready Industries CCE
Raj Kesari Electrodes CCE
Jollyboard Ltd CC&CE
CCE UP State Sugar Corporation Ltd.
CCE Synmedic Laboratories
YG1 Industries CCE
CCE GKW Ltd
MDS Switchgear CCE -
CCE MDS Switchgear Ltd
UP State Sugar Corporation CCE ’
CCE Anant Commodities
Eveready Industries CCE
Ruptex Mineral CCE Shakun Polymers CCE CCE Gwalior Chemical Industries
CCE Sterlite IndustriesKerala State Electronic Corporation CCE International Tractors CCE CCE Neel Metal Products Cipla Ltd. CCE CCE Kitchen Appliances
Racold Thermo CCE -
CCE Aggarwal Iron Industries
CCE Pawan Ispat Udyog
2397
Para 41.7
Racold Thermo CCE Cummins Diesel Sales and Services India Ltd. CCE
41.7-2 Full Cenvat credit of duty paid available even if seller gave trade discount or price reduction later
’ CCE Tirumala Fine Texturiser P. Ltd
Evergreen Engineering Co. CCE Brown Kraft Indus. Ltd CCE Sri Balaji Industries CCE ACS Hydraulics CCE Advance Detergents CCE
Srinivasa Chemical Enterprises CCE Force Motors CCE ‘ ’
‘ ’ Mahaveer Surfectants CCE CCE Toyo Springs CCE Toyo Springs Pawan Alloys CCE
Creative Polypack Ltd CCE CCE Trinetra Texturisers
Para 41.7 2398
Ltd Bajaj Auto Ltd. CCE -
MRF Ltd. CCE ’
Business Combine Ltd. CCE
No reduction in Cenvat even if price reduced due to quality difference -
CCE J L Morison
Credit even if duty paid at higher rate
Nahar Industrial
Enterprises CCE CCE Jai
Mata Alloys
CCE Pirity Flexpack ’
Credit even if duty is paid under protest CCE Sterlite Industries
Memories Photography Studio CCE
User cannot be penalised for fault of supplier J K Industries Ltd UOI
Malhotra Cables CCE
Hind Alloys CCE
2399
Overseas CCE
Para 41.7
Karishma
41.7-3 Buyer can avail Cenvat credit, if supplier paid duty, even though not payable
CCE CEGAT ‘ ’ ‘
‘ ’ CCE Ranbaxy Labs Ltd.
Manaksia Ltd CCE
Savera Pharmaceuticals CCE
Divya Pharma CCE Manikgarh Cement
CCE
V G Steel Industry CCE
Sterlite Industries CCE
Natco Pharma CCE
Uniworth Ltd CCE
CCE Nahar Granites
Hindustan Coca Cola Beverages CCE
Balakrishna Industries CCE Neuland Laboratories CCE Kohinoor Printers
CCE CCE Kohinoor Printers
Oboi Laboratories CCE
Neuland Laboratories CCE
CCE Sundaram Auto Components
BCL Springs CCE
CCE Nagappa Springs
V G Steel Industry CCE
CCE Pirity Flexpack
Brakes India CCE
Spic (HCD) Ltd. CCE
Para 41.7 2400
Kerala State Electronic Corporation CCE
Owens Bilt CCE
CCE Hogans India
CCE DIL Ltd. Koch-Glitsch
India CCE CCE Laxmi Metal Pressing Works
Sundaram Auto Components CCE
CCE Sundaram Auto Components
Owens Bilt Ltd. CCE
Goa Industrial Products CCE
Nav Bharat Tubes CCE -
CCE Nestle India
CCE Nestle India
Shree Shyam Filaments CCE -
Sanjivani SSK Ltd. CCE -
Cenvat credit of duty paid on inputs as well as duty paid by job worker on entire value
Thermax Ltd. CCE
Job worker can pay service tax and principal manufacturer can avail Cenvat credit
Federal Mogul Goetze India CCE
CCE Federal Mogul TPR India
No Cenvat credit to assessee or the customer if assessee pays duty on unconditionally exempted goods
Para 41.8
Entire Cenvat credit even if duty payable on final product lower than input credit available
CCE Camphor Allied Products
41.7-4 Accounting entries not relevant for eligibility of Cenvat credit -
Shree Rama Multitech CCE
41.7-5 No reversal if supplier gives reduction in price after clearance
MRF Ltd. CCE
CCE Kinetic Engg. ’ ’
Full credit available even if price subsequently reducedCCE Trinetra
Texturisers
MRF Ltd. CCE
41.8-1 Decisions under Cenvat Credit Rules, 2004
mPortal India Wireless Solutions P. Ltd.
41.8-2 Ratio of judgment will apply
mPortal India Wireless Solutions P. Ltd.
41.8-3 Credit is tax paid in advance on output supply
AUTHOR : S.S.
GUPTAPUBLISHER : TAXMANN
DATE OF PUBLICATION : APRIL 2023
EDITION : 14th Edition
ISBN NO : 9789357782425
NO. OF PAGES : 4344
BINDING TYPE : PAPERBACK
Description:
This book is Taxmann's bestselling flagship commentary explaining every concept of GST lucidly. The noteworthy features of this book are as follows:
[Exhaustive GST Commentary] The various provisions contained in different statutes are discussed in sixty chapters [Interlinking all Statutory Contents] Provides the scope of provisions of sections, rules, etc. [Case Laws] Supported by judgements or orders of various Tribunals, High Courts and the Supreme Court. [Illustrations/Examples] The provisions are also explained in different places by way of giving examples [Simple & Lucid Language] The thirst of the book is to explain the provisions in layman's language so that it is understood very easily
This book is trusted by all business people & employees and has been regularly used by departmental officers & courts for several years.
This book is divided into three volumes with the following coverage:
Volumes 1 & 2 covers a 2,700+ page commentary on GST
Volume 3 covers the statutory portion of the GST
The Present Publication is the 14th Edition and has been updated till 31st March 2023. This book is authored by S.S. Gupta & is divided into seven divisions, namely:
Basic Concepts
Exemption & Other Levies
Export & Import of Goods and Services Procedures
Input Tax Credit Appeals
Acts/Rules/Notifications/Circulars & Clarifications
