Input Tax Credit GSt
Input Tax Credit GST
Ineligible GST is the one, where the GST department has put few services under Negative list, that means those gst paid or payable are not eligible to for input credit. Example employee insurance paid along with GST not eligible for input tax credit, even though it auto reflect in the GSTr3B return, but shall be modified by removing the ineligible credit while filing the 3B return.
1. An invoice issued by the supplier of goods or services
2. Invoice issued by the recipient of goods and services supplied by an unregistered dealer. Such supply comes under the reverse charge mechanism. This mechanism involves supplies made by an unregistered person to a registered person.
3. A debit note issued by the supplier if the tax charged is less than the tax payable in respect of such a supply.
4. A bill of entry or any similar documents is required to document an integrated tax on imports.
5. An invoice or credit note issued by an input service distributor as per the rules under GST.
6. A supply bill by a dealer opting for a composition scheme or an exporter or supplier of exempted goods.