Page 11 - Ch15_Computation of GST

2) Computation of ITC available with M/s Flow Pro for the month of July:

S.No. Inward Supplies ITC (₹) Remarks
(i) Inputs 'A’ 90,000 ITC cannot be taken on missing invoice. The registered person
should have the invoice in its possession to claim ITC
(ii) Inputs 'B’ Nil When inputs are received in lots, ITC can be availed only on
receipt of last lot.

(iii) Capital Goods Nil Input tax paid on capital goods cannot be availed as ITC, if
depreciation has been claimed on such tax component
(iv) Input services 1,75,000 ITC on an invoice cannot be availed after 30th November
following the end of financial year to which such invoice

pertains or the date of filing annual return, whichever is earlier.
Since the annual return for the previous financial year has been
filed on 15th September, ITC on the invoice pertaining to
previous financial year cannot be availed after 15th September.

Total ITC (IGST) 2,65,000
Note:
Ü ITC of IGST can be utilised towards payment of CGST and SGST in any proportion and in any order.
Ü Therefore, there can be multiple ways of setting off of IGST credit against CGST and SGST liability and

accordingly, in the given case, amount of net GST payable in cash under the heads of CGST and SGST will
vary.
Ü However, total amount of net GST payable in cash will be ₹ 3,02,000 in each case.

CCP 15.01.05.00
Mr. Himanshu, a registered supplier of chemicals, pays GST under regular scheme. He is not eligible for
any threshold exemption

1. He has made the following outward taxable supplies for the month of September 20XX:
Intra-State supply of goods ₹ 25,00,000
Inter-State supply of goods ₹ 5,00,000
2. He has also made the following inward supply:
Intra-State purchase of goods from registered dealer₹ 14,00,000

Intra-State purchase of goods from unregistered dealer ₹ 2,00,000
Inter-State purchase of goods from registered dealer ₹ 4,00,000
3. Balance of ITC at the beginning of September 20XX:

CGST ₹ 95,000
SGST ₹ 60,000
IGST ₹ 50,000
4. Additional Information:
Ü He purchased a car (Intra-State supply) used for business purpose at a price of ₹ 6,72,000/-

(including CGST of ₹ 36,000 & SGST of ₹ 36,000) on September 15, 20XX. He capitalized the full
value including GST in the books on the same date to claim depreciation.
Ü Out of Inter-State purchase from registered dealer, goods worth ₹ 1,00,000 were received on
October 3, 20XX due to road traffic jams.

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