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How to claim ITC in GST?

Maya (Student) (663 Points)

17 March 2018

Dear frds/ experts,
Plz kindly let me know about the step by step procedures of how & when to claim ITC in GST?

Thanks in advance,
Maya.

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8 Replies

Rahul Prasad (CA Student) (1683 Points)
Replied 17 March 2018

can you make more clear your query.

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Pankaj Rawat (GST Practitioner) (55052 Points)
Replied 17 March 2018

plz ref sec 17(5) gives u negative list not claim ITC, so other then that u can claim itc

RAJA P M ("Do the Right Thing...!!!") (128091 Points)
Replied 17 March 2018

Dear Maya.,

Please elaborate Your query once again.

Maya (Student) (663 Points)
Replied 17 March 2018

Let me consider an eg. A co. is a service oriented company. That company pays its telephone bill along with GST. When the co. pays its GST(collected from its client) for its service, it wants to reduce it by claiming ITC. For this, what are the step by step procedures to claim ITC?
Hope you better understood my doubt.

Thanks,
Maya.

RAJA P M ("Do the Right Thing...!!!") (128091 Points)
Replied 17 March 2018

First of Your GSTIN is must in the Telephone Bills..

After You ll get Your telephone bills you can claim the GST tax as Your ITC...

Sales GST Tax (-) Input Tax = Pay Your Balance Liability...

*Input ITC - Telephone bills GST Tax and Any other input from Your Supplier of Services or Goods..

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Maya (Student) (663 Points)
Replied 17 March 2018

Thank you Sir. Can you please explain the above, in which GST return forms we are we are going to make payment & claim ITC. And in case, if ITC is not claimed, then how to get its refund?