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Input tax credit

MOHAMMED IMRAN (1020 Points)

11 November 2018

is input tax credit available for amount paid without TDS u/s 194 J of income tax act?

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6 Replies

CA Nagaraju (Chartered Accountant) (33 Points)
Replied 11 November 2018

yes, ITC available,

ITC can be claimed by a person registered under GST only if he fulfills ALL the conditions as prescribed.

a. The registered person should be in possession of tax invoice

b. The said goods/services have been received

c. Returns have been filed by the supplier

d. The tax charged has been paid to the government by the supplier.

kishan sarda (CA Student) (2 Points)
Replied 11 November 2018

the question of TDS arise only when payment exceed 30000

RAJA P M ("Do the Right Thing...!!!") (127076 Points)
Replied 11 November 2018

No more restriction for ITC in GST if You are not deduct TDS based on income tax...

Based on IT without deduct TDS as per section and it's ceiling limit then the said expenses disallowed under IT Act.

santhuamma415@gmail.com (223 Points)
Replied 11 November 2018

but one important thing is he should not be a compositdelar where he cant claim ITC SO IN YOUR QUESTION SOME INFORMATION IS MISSING

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kamal raheja (2 Points)
Replied 11 November 2018

TDS U/S 194J is also required to deduct without any threshold limit if payment made to non employee directors........threshold limit of ₹30000 shell be apply only i case of professionals , technical, royallity