Input tax credit rules are detailed and frequently amended. The firm advises on eligibility, blocked credits, reversals for exempt supplies and timelines.
Scope of service
- Eligibility under section 16
- Blocked credits under section 17(5)
- Reversal under Rules 42 and 43
- Credit on capital goods
- Time limit and payment-to-supplier conditions
Regulatory framework
- CGST Act, 2017 — sections 16, 17 and 18
- CGST Rules, 2017 — Rules 36 to 45
Typical professional activities
- Credit review
- Reversal computation
- Written advice
Applicable industries
- Manufacturing
- Automobile & Auto Components
- Engineering
- IT & Software
- Pharmaceuticals
- Infrastructure
- Sugar & Agro Industries
- Trading & Distribution
- Service Industries
- Startups & Growing Businesses
Relevant articles and resources
- Interest on delayed GST payment under section 50
- Input tax credit and GSTR-2B: conditions and reconciliation
- Knowledge Centre: GST
The information on this page describes the nature of the service. It is not advice on any specific matter. See the disclaimer.