Page 20 - Ch_10 ITC

5 Goods purchased from Lata Nil As per sec 16(2)(aa) of CGST Act, ITC is not available, if

Ltd. supplier has not reported the invoice in his GSTR-1, even
though the tax is deposited to Govt. within due date, since all
conditions are to be satisfied u/s 16(2) to avail ITC.
6 Battery purchased from Exide 54,000 As per sec 16(2)(a) of CGST Act, a registered person can

Ltd. avail ITC, if he is in possession of a tax invoice which is a
valid document. However, payment for value & tax has
to be made within 180 days of invoice date as per proviso
to sec 16(2).

7 Goods purchased from Asha - All conditions are to be satisfied u/s 16(2) to avail ITC.
Ltd. So, ITC is not available in either of the cases where
supplier has not reported invoice in GSTR-1 or has not
paid tax to Govt.
Total ITC Available 1,46,000

08. Questions to compute Eligible ITC Available & GST Liability
CCP 10.08.28.00
Paritosh & Co., a supplier of goods, pays GST under regular scheme. It has made the following outward

taxable supplies in a tax period:
Particulars ₹
Intra state supplies of goods 10,00,000
Inter state supplies of goods 8,00,000

It has also furnished the following information in respect of purchases made by it in that tax period:
Particulars ₹
Intra-State purchase of goods 3,00,000
Inter-State purchase of goods 2,50,000

Paritosh & Co. has following opening balance of ITCs for the tax period:
Particulars ₹
CGST 57,000
SGST 60,000

IGST 1,40,000
Note:
(i) Rates of CGST, SGST and IGST are 9%, 9% and 18% respectively.
(ii) Both inward and outward supplies are exclusive of taxes, wherever applicable.

(iii) All the conditions necessary for availing ITC have been fulfilled.
Compute the minimum GST, payable in cash, by Paritosh & Co. for the tax period and the ITC to be carried
forward to the next month. Make suitable assumptions as required. [Study Mat] [CA IPCC May 18 Exam]
Answer:
1) Computation of GST payable on outward supplies:

S.no Particulars IGST (₹) CGST (₹) SGST (₹)
(i) Intra-State supply of goods - 90,000 90,000
(ii) Inter-State supply of goods 1,44,000

Total ITC 1,44,000 90,000 90,000

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