GST Claims & Blocked ITC Under Section 17(5) | Tamil

Learn about blocked ITC under GST Section 17(5) when purchasing certain goods/services and paying GST. 🚫 #gst #shortvideo

GST Claims & Blocked ITC Under Section 17(5) | Tamil
Tax with Suriya
8.3K views β€’ Nov 20, 2024
GST Claims & Blocked ITC Under Section 17(5) | Tamil

About this video

Blocked ITC under GST Act Section 17(5) 🚫
If you Buy any of Below Goods or Services and Paid GST while purchase, do not claim ITC:
1. Motor Vehicles πŸš— Personal use (≀ 13 seats), unless for resale, passenger transport, or driving training.
2.Vessels & Aircraft ✈️πŸ›₯️ Unless for resale, passenger/goods transport, or training.
3. Related Services πŸ› οΈ Insurance, repairs for vehicles, vessels, aircraft, unless for resale or by manufacturers/insurers.
4.Food & Beverages 🍽️ Catering, beauty, health, cosmetic services, except for resale.
5. Club Membership πŸ‹οΈ Health & fitness centers. 6.Employee Travel 🏝️ Vacation, leave travel, unless required by law.
7.Works Contract πŸ—οΈ For immovable property, unless for resale. 8.Immovable Property 🚧 Construction for own use, except plant/machinery. 9.Composition Scheme 🌟 Goods/services under Section 10.
10.Non-Resident Taxpayer πŸ›‚ Except imported goods.
11.CSR Activities 🀝 Corporate social responsibility.
12. Personal Use 🍿 Personal consumption goods/services.
13.Lost/Stolen Goods ❌ Lost, stolen, destroyed, or given as gifts/samples. 14.Tax Penalties πŸ’° Taxes paid under sections 74, 129, 130

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8.3K

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Duration

0:59

Published

Nov 20, 2024

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