Input Tax Credit (ITC) | CA Inter GST Revision | Jan 27 | CA Karan Satija

Input Tax Credit (ITC) - complete revision for CA Inter GST (Jan 2027 attempt) by CA Karan Satija. In this video we revise the key definitions, eligibility and conditions for ITC under Section 16, the 180 days rule, the time limit for availing ITC, apportionment and every blocked credit clause of Section 17(5), ITC in special circumstances under Section 18, and Rules 86A and 86B. 📌 TOPICS COVERED IN THIS VIDEO (31 topics) 1. Key Definitions: Input [Sec 2(59)], Input Service [Sec 2(60)], Capital Goods [Sec 2(19)], Job Work [Sec 2(68)] 2. Eligibility and Basic Conditions for Availing ITC [Section 16(1)] - Business purpose mandate 3. Sec 16(2)(a): Mandate of Possession of Tax Invoice / Debit Note / Tax Paying Document 4. Sec 16(2)(aa): Mandate of Details reflected in GSTR-2A / GSTR-2B of the recipient 5. Sec 16(2)(b): Mandate of Actual Receipt of Goods or Services (Bill-to-Ship-to Deemed Receipt Rules) 6. Sec 16(2)(ba): Mandate that ITC is not restricted under Section 38 7. Sec 16(2)(c): Mandate that Tax charged has been actually paid to Government by supplier 8. Sec 16(2)(d): Mandate of Furnishing of Return under Section 39 (GSTR-3B) 9. 180 Days Payment Rule & Reversal of ITC for Non-payment of Consideration [Second Proviso to Sec 16(2)] 10. Restriction on Depreciation under Income Tax Act on Tax Component [Section 16(3)] 11. Time Limit for Availing ITC [Section 16(4)] - 30th November following FY or Annual Return filing date 12. Apportionment of Credit & Blocked Credit [Section 17] - Business vs Personal, Taxable vs Exempt 13. Sec 17(5)(a) & (aa): Blocked Credit on Motor Vehicles for transportation of persons (Seating capacity up to 13) & Exceptions 14. Sec 17(5)(ab): Blocked Credit on Vessels and Aircraft & Exceptions 15. Sec 17(5)(b)(i): Blocked Credit on Food & beverages, outdoor catering, beauty treatment, health services, cosmetic surgery 16. Sec 17(5)(b)(ii): Blocked Credit on Membership of club, health & fitness centre 17. Sec 17(5)(b)(iii): Blocked Credit on Travel benefits extended to employees on vacation (LTA, leave encashment) 18. Sec 17(5)(c): Blocked Credit on Works Contract Services for construction of Immovable Property 19. Sec 17(5)(d): Blocked Credit on Goods or services received for construction of Immovable Property on own account 20. Sec 17(5)(e) & (f): Blocked Credit on Composition Tax supplies & Goods/Services received by Non-Resident Taxable Person 21. Sec 17(5)(g): Blocked Credit on Goods/services used for Personal Consumption 22. Sec 17(5)(h): Blocked Credit on Goods Lost, Stolen, Destroyed, Written off, or disposed of by way of Gift/Free Samples 23. Sec 17(5)(i): Blocked Credit on Tax paid in accordance with Section 74, 129, 130 24. Sec 18(1)(a): ITC on New Registration applied within 30 days - Inputs held in stock 25. Sec 18(1)(b): ITC on Voluntary Registration - Inputs held in stock 26. Sec 18(1)(c): ITC on Switching from Composition Scheme to Normal Scheme - Inputs & Capital Goods 27. Sec 18(1)(d): ITC on Exempt Supply becoming Taxable Supply - Inputs & Capital Goods 28. Sec 18(4): Reversal of ITC on Taxable Supply becoming Exempt / Switching to Composition 29. Sec 18(6): Supply of Capital Goods or Plant & Machinery on which ITC was availed 30. Sec 18(3) & Rule 41: Transfer of Unutilized ITC on Sale, Merger, Demerger, Amalgamation 31. Rule 86A (Blocking of Electronic Credit Ledger) & Rule 86B (1% Mandatory Cash Payment Rule) 🎯 WHO SHOULD WATCH CA Inter students appearing in the January 2027 attempt who want a fast, exam-focused revision of Input Tax Credit (ITC) for Paper 3: Taxation (Section B - GST). 📚 CA INTER GST REVISION SERIES - JAN 2027 Chapter-wise GST revision in 15 videos: Introduction to GST | Supply | Charge (RCM & Composition) | Place of Supply | Exemptions | Time of Supply | Value of Supply | Input Tax Credit | Registration | Tax Invoice, Credit & Debit Notes | Accounts & Records | E-Way Bill | Payment of Tax & TDS | ECO & TCS | Returns 🔔 SUBSCRIBE for the complete series: 👍 Like the video, share it with your CA Inter study group and comment your doubts below. Note: Always read this along with the latest ICAI study material and the amendments applicable to your attempt. Contact Us: ☎ 𝐒𝐚𝐥𝐞𝐬: | | | | | Follow Us On: ✅ Instagram: ✅ Telegram: