Revisionary lecture GST For May 2020 ITC Part IV Blocked Credit Section 175 DG SIR

[@Sanjeevkumar-bc3tt]

Gajab sir. Apke samjhne ka tarika sbse alag h. Very helpfull all videoes. Thanku so much sir...

[@swatigupta2408]

Thank you Sir. Very helpful. Please provide the revision for gst exemptions too

[@Arjun_Iyengar_]

Beautifully explained! Thanks for providing resivion videos sir. It's very helpful.

[@Payyavula4816]

Excellent

[@navnidhisharma422]

Motor vehicle 13 passangers 6:17 vessel and aircraft 18:57 🌸 28:12 food catering

[@VikasKumar-re4wo]

Very informative vedio thanks sir

[@camohitmangla1125]

Always value addition videos...we get sometjing new in your video. Thanku so much sir, u r just amazing👍

[@tanishkakhandelwal8411]

Thank you sir, the explanations are really helpful. Sir, please upload a revisionary lecture for export chapter also in GST.

[@Comindance]

Capital Goods got lost/destroyed.. 17(5) requires ITC reversal but why should I reverse whole ITC? Proportionate reversal should be there but it is contained in 18(6) and that too but there is a condition that asset has been 'supplied'... But goods lost/destroyed won't qualify as supply of that asset... This way isn't it wrong that I will have to reverse entire ITC? instead i should be entitled to that much ITC of the period in which i have used the asset..

[@kusumgupta9397]

Thankyou so much sir!! These videos are helping a lot.

[@shikhajaiswal282]

Beautiful explained thanks sirji

[@wbswda1191]

query related to block credit of Motor vechicle in case of renting of Motor vechile. supply includes the sale,transfer,barter, lease, rent etc. so if any company give the car on rent should it be treated as further supply?

[@fununlimited7970]

Sit furthur supply of such motor vehicle would have included renting also I am not getting why supply meaning is taken only sale here

[@chintapallimanikanta5835]

Yeah same doubt, here supply means section 7 supply definition right.

[@Charteredprateek]

thank you so much sir. Please provide the Revision Lecture for GST Exemptions also.

[@gchirag96]

Best analysis of works contract services

[@monikashrivastava9969]

Thank-you so much sir. Awesome style of teaching.

[@DGSir]

Thanks. Dont forget to share in yours circle if you really feel benefitted

[@monikashrivastava9969]

@@DGSir sure sir 😊

[@WaferRoll]

Awesome lectures sir 👍

[@nibinjose6926]

Sir, If organising committee is providing food and beverages to the members attending a conference/seminar, can they take input tax credit on such food and beverages. Because food and beverages are also a part of composite/mixed supply for conducting seminar or conference. Can we take this as an exemption from blocked credit?

[@simransomani5593]

Very nice and indepth explanation sir ,Thank you ❤️

[@rakeshsharma4635]

Sir stationery items consumed in business,ITC allowed or reversed

[@shubhamaggarwal1203]

Query Wheteher inputs destroyed in production process(wip) eligible for itc or not?

[@prakritijoshi8415]

ITC is not available for stolen, destroyed, damaged goods. In case a person has taken itc then he shall have to reverse such ITC.

[@fununlimited7970]

Sir in case of renting of vehicle itc should be avaliable becuase it is covered under 1 st point that is further supply Because supply is wider word It also include renting This is ICAI point of view ....

[@atufashagufa9991]

Sir,@13:34 as per your example if coaching institute outward supply is transportation of passenger the ITC is blocked on such vehicle as its business is not of transportation of passenger .(to the contrary ITC is allowed by ICAI as it has covered it under FIT and ICAI is just checking whether its covered in FIT without looking at same line of taxable outward supply). But sir as per the written text of law, under section 17(5)(a)(aa) it only mentions outward supply but under section 17(5) (b) for giving exceptions to block credit the law states outward supply should be of same category of G/S which it has not mentioned in 17(5)(a)(aa) so can we come to the conclusions that 17(5)(a) exceptions can be availed even if outward supply is not of same line of business. Sir Please clarify!!!

[@sudhirsinha7273]

Very useful video

[@Comindance]

Employee ko air ticket kra k di sir year end pr good performance k liye.. .. To itc ni milega.... And output side p recovery na krein to ye gift maan k exempt? But agar recover krlein to kya ye Caltech polymer wali AAR k base p ancillary to business me aakr tax ho jayega?

[@ajaybisht577]

Very Niiiiice Explain Sir....

[@pawanshukla2898]

Thanks so much for your suggestion sir

[@UseeR0202]

Sir, when can we expect fresh recording of your classes for Nov 20 term?

[@DGSir]

We need to wait for einvoing and new returns provisions

[@cavarunsahni]

Sir, are the details w.r.t. Circular 92/11/2019 mentioned correctly in the book (Q53)? I feel confused on reading it. 1:10:22

[@DGSir]

Need correction

[@kartikgoenka5954]

Thanku sir for all ur efforts..there revisionary lectures are very much helpful for us... There is an contradiction in a example of study mat of icai with ur pt. which says (ITC on cars purchased by co. Engaged in renting out cars for transportation of passenger is allowed ) pg 8.42 ...sir plz clarify whether to follow u or icai?

[@DGSir]

As per law not allowed. You can refer ours question bank for giverning advance ruling. Still i will advise you to drop a mial to Board of Studies to get yours full satisfactiom

[@wbswda1191]

If a company having Motor vehicle used for travelling of director. Parts of motor vehicle purchased for the repair purpose. should itc allowed on purchase of parts of MV

[@prakritijoshi8415]

ITC is not allowed as itc coz jis mv ka itc nhi milega.. to Uske service, repair, maintenance and insurance ka bhi itc nhi milega. As in your question ye mv director k use k liye hai and

[@neelamagrawal6001]

Sir , If inward supply - purchase of motor vehicles ( seating capacity less than 13 ) Outward supply - renting of above motor vehicle . Can ITC be availed on above inward supply ???

[@prakritijoshi8415]

No itc will be available as the purchased mv doesn’t satisfy FIT as it is purchased for the purpose of renting. But if a person doesn’t buy instead he renting a mv for the purpose of FIT he will get ITC on his inward supply(purchase).

[@sagargupta9354]

If his outward supply is renting the motor vehicle then eligible for ITC, even though the capacity is not more than 13 person, because as per Section 17(5)(a)-" cover under further supply of such motor vehicle" and if we read section 7(1)(a) supply includes Rental.

[@chiragarora1250]

Sir kindly explain the following case Itc on general insurance premium to cover loss of stock is admissible but it is not for same category of supply then what is the logic that it is allowed. Thanks Sir.

[@DGSir]

Kindly state examples where u need clarity Not clear as to question

[@chiragarora1250]

@@DGSir Sir question no 40 of yours question bank page no 200.

[@akhilguptha4201]

sir sec 19 to 21??

[@tushantchopra3155]

Q 1 :- Vehicle Purchased For transportation of Cash(Money), ITC Available for that vehicle or not. Q.2 :- When Goods Vehicle Purchased by one Business man (Deal in cloth trading) whether that business man eligible to take ITC or not.

[@princebansal5014]

only itc of passenger vehicle is blocked, if vehicle is used for transportation of goods then itc is allowed provided conditions of section 16 are complied.

[@ashokkabdwal9995]

Sir what if no SCN came u/s 74..but supplier suo moto recover gst from recepient..wheteher ITC is available to recepient.

[@DGSir]

Not admissible

[@sandybandawar855]

Dear sir...if work contractor purchases goods for construction ...is he eligible for itc

[@DGSir]

sandy bandawar admisible when he is doint construction for others

[@TheInterview.]

sir can u give example for sec 17(5)(i)

[@yoyopunit1441]

kindly upload custom revision video as well as exemption.

[@DGSir]

Dont expect too much

[@canupursachdeva2380]

@16:35 ITC is blocked according to sir. But ICAI's module has this example in its module says ITC is allowed. 🤔

[@nirajjha33]

Yes,many text book say,it is allowed.

[@vivektripathi8892]

It is allowed it falls with in category of further supply.

[@chintapallimanikanta5835]

​@@vivektripathi8892 correct

[@DEEPAKGUPTA-vq2tj]

i am becoming your huge fan after watching these revision videos.i am humbly requesting you to sir, please upload procedural part revision videos.. again thanks . safalta waqt maangti hai...

[@DGSir]

Mention which procedural part you are looking for

[@DGSir]

Thanks. If you can mention what aspects you are liking most, it would help us in making further improvment on other aspects

[@DEEPAKGUPTA-vq2tj]

As per question bank chapter 16 and 19 .. I have cleared most of the doubt of itc after watching these revision videos..

[@talking_verse]

Hello sir , huge respect to u from nagpur 🙏🙏. Sir just wanna confirm abt that in case of renting of motor vehicle , itc is blocked as the capital good is in nature of "transportation of person" and not used fir making F.I.T services ?? Sir is my concept clear ?

[@DGSir]

Itc bloked of car if supplier is providing renting service

[@shivambansal4789]

@@DGSir that means if my business is of purchasing vehicle and giving them on rent then no ITC on such Vehicle purchase? Please correct me if I am wrong. Thanks in advance

[@samanapoudel5930]

Thank you so much😇😇

[@Comindance]

Sir supply as per 7(1)(a) includes sale, transfer, barter, lease, etc.... So output supply of renting of motor vehicle par ITC blocked kyu h? Further supply of such vehicle should include renting.. Supply doesn't only means sale.. Plz clear

[@DGSir]

I purchase x gor further supply of x Means i wil be reselling Else if we follw urs logic Then further supply will cover all activities anf Then 17(5) block will be meaningless

[@Comindance]

@@DGSir thanks sir for clearing... Actually was taught this concept by another teacher during my exam days... So have this confusion from very start

[@vivektripathi8892]

@@DGSir when registered person is renting out car and paying GST on rent, ITC on MV is available. Ang going by your logic that ITC is available only on reselling on same MV, then law makers would not have to write specifically u/s 17(5)( b)that ITC will not be available on leasing renting or hiring of MV Vessel aircraft referred in clause (a) or (aa) except when used for purposes specified therein.

[@shalinibhatnagar9976]

Thanks sir

[@Comindance]

Capital Goods lost ho gye agar sir.... To jo meko 17(5) ki vjh se itc reverse krna padega vo m पूरा kyu kru? Proportionate reversal to 18(6) me likhi h and vha condition h ki asset ka 'supply' hua ho.... But goods lost/destroyed me supply to hua ni to wha pura reversal krna to गलत h because मैंने jitna use kia utna ITC to बनता h mera

[@DGSir]

Write in english dear

[@Comindance]

@@DGSir Dear sir, you don't consider questions in Hindi language worth replying?

[@caayushmahajan3878]

Sir please upload sec 19 and sec 20

[@10-wars]

Thank you sir

[@satyamiryala8579]

DEAR SIRJI, MERE SS ROD & PIPE KA BUSINESS HAI, MAINE ALL OVER INDIA SUPPLIER KARTHA HUO, BUT MERE SAWAL HAI, KUCH GUEST PURCHASE KARNE KE LIYA MUMBAI AATHA HAI, MAINE USS KE LIYE FOOD AND BEVERAGE HOTEL SE MANGA WATH HUO, THO MUJE ITC MILEGA , ISS KA JAWAB DIJIYE SIRJI (MR.SATYA/MUMBAI).

[@DGSir]

Food and beverage ITC and catering service is blocked for you. No ITC

[@samanapoudel5930]

Sir please provide revision video on place of supply and exemption

[@anchaljain8406]

Sir plzz upload custom revision

[@DGSir]

We wont be able to

[@anilbaswal949]

Thank you guru ji