In our video tutorials series our next video is on input tax credit in GST. In this video we have explained the provisions of Input tax credit in GST. Section 16 to 22 covers the provisions for input tax credit in GST.
Some important points our video on GST will cover.
Credit of all inputs will be available freely. Even for Capex full credit will be available immediately
There is a negative list. Credit of some of the input tax will not be available. In some other cases the credit will be dependent on the output supply. Like in case of motor vehicles the credit will be available when the specified output supply will be there.
At the time of entry into GST accumulated credit will also be available
For supply of asset there will be credit reversal.
All these provisions are discussed in detail in our video.
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