Can the unutilized input tax credit be transferred in case of change in constitution of business?

Related MCQs

• Section 2(62) of the CGST Act, 2017 specifies input tax in relation to a registered person to mean Central Tax, State Tax, Integrated Tax or Union Territory Tax charged on any supply of goods or services or both and also include: (i) Integrated goods and services, tax charged on import of goods (ii) Tax under the provisions of section 9(3) and 9(4) (iii) Tax paid under composition levy (iv)Tax under Union Territory Goods and Services Tax Act
• Patel of Surat, Gujarat supplied good to Patil of Mumbai, Maharashtra for ` 1,20,000 (excluding GST) but after adding 30% profit margin (on cost). Patil is also a taxable person. IGST rate is 18%. The amount of input tax credit that can be availed and the maximum time limit for availing such input tax credit by Patil of Mumbai, Maharashtra as per CGST Act, 2017 is
• In relation to a registered person, input tax means the Central tax, State tax, Integrated tax or Union Territory tax charged on any supply of goods or services or both made to him and includes
• Input Tax credit as credited in Electronic Credit ledger can be utilized for
• In case of Compulsory registration, input tax credit can be availed on
• In case of Voluntary registration input tax credit can be availed
• Whether depreciation on tax component of capital goods and Plant and Machinery and whether input tax credit is Permissible?
• The available balance of input tax credit in the electronic ledger of the registered person on account of Union territory tax shall be utilised as per section 9 of UTGST Act, 2017
• Input tax credit cannot be availed after the expiry of from the date of issue of tax invoice of supply.
• Which of the following activity shall be treated neither as a supply of goods nor a supply of services ? (i) Permanent transfer of business assets where input tax credit has been availed on such assets (ii) Temporary transfer of intellectual property right (iii) Transportation of deceased (iv) Services by an employee to the employer in the course of employment