ॐ असतो मा सद्गमय
Yes. Section 17(5) (b)(iii) of the CGST Act provides that tax paid w.r.t rent a cab
services, life/ health insurance services will be eligible as input tax credit where the Government notifies that such services are obligatory for an employer to provide to its employees under any law for the time being in force.
(ICAI FAQ PUBLICATION 06-09-2017 -: Apportionment of credit and blocked credits: FAQ NO.20)
A Primary authorized signatory is the person who is primarily responsible to perform action on the GST System Portal on behalf of the taxpayer. All communication from the GST System Portal relating to taxpayer will be sent to him. He may be resident or nonresident.
(ICAI FAQ PUBLICATIONS 06-09-2017 REGISTRATION: FAQ NO. 50)
Every registered taxable person whose registration has been cancelled shall pay the amount of ITC on inputs which are held in stock and inputs contained in semi-finished or finished goods held in stock on the day immediately preceding the date of such cancellation or the output tax payable on such goods whichever is higher to be calculated in a manner as prescribed. In case of capital goods, the person shall pay the ITC claimed on such capital goods reduced by such percentage points as maybe prescribed in this behalf or tax on transaction value whichever is higher. The above said payment can be made by debiting the electronic credit ledger or through cash ledger.
(ICAI FAQ PUBLICATIONS 06-09-2017 REGISTRATION: FAQ NO. 49)
The restriction of input tax credit on motor vehicles and conveyances provided under Section 17 (5) (a) is on such motor vehicles/ conveyances except when they are used for further supply of vehicles/ conveyances, transportation of passengers, imparting training or for transportation of goods only. Therefore, input tax credit will be available when it is used by courier agency, outdoor catering, pandal and shamiana and tour operator as it covers use of vehicles for transportation of goods/ transportation of passengers.
(ICAI FAQ PUBLICATION 06-09-2017 -: Apportionment of credit and blocked credits: FAQ NO.19)
No, Cancellation of registration does not affect the tax liability of the person which is incurred prior to the date of cancellation. He shall still be liable to pay the amount of tax and other dues or any other obligation for a period prior to the date of cancellation irrespective of the fact that whether the same is determined before or after the cancellation of registration.
(ICAI FAQ PUBLICATION 06-09-2017 REGISTRATION: FAQ NO. 48)
Yes. The mobile phones/ laptops would be covered under the definition of ‘inputs’ as they are used in the course/ furtherance of business and hence, the input tax paid on such goods will be available as input tax credit.
(ICAI FAQ PUBLICATION 06-09-2017 -: Apportionment of credit and blocked credits: FAQ NO.18)
In the process of manufacture, if some inputs become waste and are sold as scrap, credit shall not be denied. Further, output tax shall be payable on sale of such waste/scrap. However, Section 17(5) (h) specifically restricts input tax credit on goods lost, stolen, destroyed, written off or disposed by way of gift or free samples. Therefore, if the goods have been destroyed in full, input tax credit will not be available.
(ICAI FAQ PUBLICATION 06-09-2017 -: Apportionment of credit and blocked credits: FAQ NO.16)
Yes.
(ICAI FAQ PUBLICATIONS 06-09-2017 REGISTRATION: FAQ NO. 47)
As per Section 22(1) a taxable person should obtain registration in every State from where he makes taxable supply of goods or services or both.
(ICAI FAQ PUBLICATIONS 06-09-2017 REGISTRATION: FAQ NO. 46)
No. Section 17(5) (h) specifically restricts input tax credit on goods disposed of by way of gift or free samples.
(ICAI FAQ PUBLICATION 06-09-2017 -: Apportionment of credit and blocked credits: FAQ NO.15)