Requirement of CA certificate under GST
|
Relevant section |
Nature of certificates |
Remark |
| 18(1)(a) | Certification of ITC in respect of stock of input, WIP, finished goods In the case of new mandatory registration within period of 30days. | ITC in stock on the date of liability of registration. |
| 18(1)(b) | Certification of ITC in respect of stock of input, WIP, finished goods In the case of new voluntary registration. | ITC in stock on the date of liability of registration. |
| 18(1)(c) | Certification of ITC in respect of stock of input, WIP, finished goods In the case of composition tax payer become regular tax payer. | Since regular taxable person entitled to ITC so credit of ITC on stock allowed. |
| 18(1)(d) | Certification of ITC in respect of stock of input, WIP, finished goods In the case of exempt supply of goods or services or both by a registered person becomes a taxable supply | |
| 18(3) | change in the constitution of a registered person on account of sale, merger, demerger, amalgamation, lease or transfer of the business with the specific provisions for transfer of liabilities, such registered person shall be allowed to transfer the ITC which remains unutilised in his electronic credit ledger to such sold, merged, demerged, amalgamated, leased or transferred business | Rule 41, form GSTR -ITC -02, Circular No. 96/15/2019-GST, dated 28-3-2019.
Note: in the case of demerger, the input tax credit shall be apportioned in the ratio of the value of assets of the new units as specified in the demerger scheme. Note: value of assets” means the value of the entire assets of the business, whether or not input tax credit has been availed thereon.[ explanation w e .f. 29-3-2019. |
| 54 | Refund of tax exceeding ₹ 2 lakh | |
| 29(5) | ||
| 18(4) | Regular tax payer opt for composition scheme | Reversal of ITC on stock immediately preceding the date of exercising of such option. |
| 18(4) | goods or services or both supplied by him become wholly exempt | Reversal of ITC
Rule 44 immediately preceding the date of such exemption |
