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ITC shall not be allowed, if payments are netted off against receivable

August 5, 2019[2019] 108 70 (AAR - TAMILNADU)

GST : Where applicant-SML is engaged in business of providing medium-sized heavy-duty cranes on rental/lease/hire basis to its clients without transferring right to use cranes and IGST is payable on inter-State movement of cranes by supplier (i.e., SML Maharashtra) to recipient office of SML (i.e. SML Tamil Nadu, applicant) duly registered under GST receiving such cranes for further supply on hire charges, it was held that on supply received from SML, Maharashtra, applicant SML, Tamil Nadu, is not eligible for full input tax credit but only to extent specified in restrictions as per second proviso to section 16(2) of CGST Act and Rule 37 of CGST Rules, read with section 20(iv) of IGST Act, subject to fulfillment of all other conditions under section 16 of CGST Act, read with section 20(iv) of IGST Act

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