TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Acts & Rules
of of All Acts & Rules
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Rule 38: Claiming Input Tax Credit for Banking and Financial Institutions Under CGST Rules 2017 Updated with New Forms</h1> Rule 38 of the Central Goods and Services Tax Rules, 2017, outlines the procedure for banking companies or financial institutions, including non-banking financial companies, to claim input tax credit (ITC) when they choose not to comply with certain provisions of section 17. These entities cannot claim ITC on tax paid for non-business purposes or certain specified supplies. They can claim ITC on tax paid for other inputs and input services, with 50% of the remaining input tax credit being admissible. The balance must be reversed in FORM GSTR-3B. Recent amendments have updated the forms and procedures involved.
TaxTMI 
TaxTMI 
