Category: CGST RULE

Rule 40. Manner of claiming credit in special circumstances.-   (1) The input tax credit claimed in accordance with the provisions of sub-section (1) of section 18 on the inputs held in stock or inputs contained in semi-finished or finished goods held in stock, or the credit claimed on capital goods in accordance with the provisions of clauses […]

Rule 39. Procedure for distribution of input tax credit by Input Service Distributor.-   (1) An Input Service Distributor shall distribute input tax credit in the manner and subject to the following conditions, namely,- (a) the input tax credit available for distribution in a month shall be distributed in the same month and the details thereof shall be furnished […]

Rule 38. Claim of credit by a banking company or a financial institution.- A banking company or a financial institution, including a non-banking financial company, engaged in the supply of services by way of accepting deposits or extending loans or advances that chooses not to comply with the provisions of sub-section (2) of section 17 , in accordance […]

Rule 37. Reversal of input tax credit in the case of non-payment of consideration.-   (1) A registered person, who has availed of input tax credit on any inward supply of goods or services or both, but fails to pay to the supplier thereof, the value of such supply along with the tax payable thereon, within […]

CHAPTER V INPUT TAX CREDIT   Rule 36. Documentary requirements and conditions for claiming input tax credit.-   (1) The input tax credit shall be availed by a registered person, including the Input Service Distributor, on the basis of any of the following documents, namely,- (a) an invoice issued by the supplier of goods or services or […]

Rule 35. Value of supply inclusive of integrated tax, central tax, State tax, Union territory tax. –   Where the value of supply is inclusive of integrated tax or, as the case may be, central tax, State tax, Union territory tax, the tax amount shall be determined in the following manner, namely,- Tax amount = (Value inclusive […]

1 [ Rule 34. Rate of exchange of currency, other than Indian rupees, for determination of value. – (1) The rate of exchange for determination of value of taxable goods shall be the applicable rate of exchange as notified by the Board under section 14 of the Customs Act, 1962 for the date of time of supply of such goods in terms […]

Rule 33. Value of supply of services in case of pure agent.- Notwithstanding anything contained in the provisions of this Chapter, the expenditure or costs incurred by a supplier as a pure agent of the recipient of supply shall be excluded from the value of supply, if all the following conditions are satisfied, namely,- ( i ) the supplier acts […]

1 [ Rule 32A. Value of supply in cases where Kerala Flood Cess is applicable.- The value of supply of goods or services or both on which Kerala Flood Cess is levied under clause 14 of the Kerala Finance Bill, 2019 shall be deemed to be the value determined in terms of section 15 of the Act, but shall not include the said cess .] 1 . Inserted vide Notification No.31/2019 – […]

Rule 32. Determination of value in respect of certain supplies.- (1) Notwithstanding anything contained in the provisions of this Chapter, the value in respect of supplies specified below shall, at the option of the supplier, be determined in the manner provided hereinafter. (2) The value of supply of services in relation to the purchase or sale […]