GST Tip – 202

As per the Draft Input Tax Credit Rules, input tax credit on capital goods is allowed if the same are used exclusively for the supply of taxable goods including zero-rated goods. If they are used partially for the exempted goods and taxable goods, then ITC has to be taken the basis of Rule 8.

2 thoughts on “GST Tip – 202

  1. Hi Sir, I have one question regarding GSTR-2, as per my current knowledge all my b2b transaction will get autofill in my GSTR-2 A, if any of my supplier not uploaded an invoice related to me as a buyer i can submit in my GSTR-2, now the problem is as per GSTR-2 Return format available on google suggest that as a buyer i have to submit data for say table 4 b2b apart from other details TAXABLE VALUE, TAX AMOUNT, IGST AVAILABLE , IGST CLAIMED.My question related to “TAX AMOUNT” as a buyer i never entered this amount in my books. so while submitting GSTR-2 for invoice which is not uploaded my supplier can i skip or have to manually entered, if i skip how it will be auto populate in GSTR-1 A. Looking forward to your guidance.


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s