Following are the goods and services where the GST law has imposed restriction while availing GST input tax credit, primarily called as Ineligible Input tax credit. We will discuss about the extent and eligibility of ITC of these goods and services. 1. ITC for Motor Vehicles is not available. The GST levied on purchase of… Continue reading
Date Archives → 2018
Procedure for closing a private limited company in India
Often, we register a company for a business idea we wanted to implement and for some reasons it does not work, we do not even start the work. Also, there are times when we register a company for a future project and hence those companies are not operational in present. There are various compliances which… Continue reading
Whether Business dealing in exempt or non-taxable goods liable for GST registration?
In general, the businesses with annual turnover up to Rs.20 lakhs are not required to take the GST registration. However, there are some specific cases, where a person is required to take GST registration even if the turnover is below Rs.20 lakhs/40lakhs With this write-up, we aim at enlightening the situations where a business dealing… Continue reading