Start learning →

The 180-day payment condition does not apply to supplies on which tax is payable on what basis?

AForward charge basis
BReverse charge basis
CComposition basis
DExempt supply basis
Answer & Solution
Correct answer: B. Reverse charge basis
The proviso excludes supplies on which tax is payable on reverse charge basis, since the recipient pays the tax himself.
Practise this question with Quill — CA Final →

Keep practising Input Tax Credit

Browse all Input Tax Credit questions for CA Final, or explore more Indirecttaxlaws topics.

Start a Input Tax Credit lesson →
Related questions
An Input Service Distributor is best described as what?Which return must be filed before claiming ITC under Section 16(2)(d)?ITC on a supply requires that the tax charged has been actually what?A bank has eligible ITC of Rs 80,000 in a month and picks the 50 per cent option. What creCommon input ITC Rs 90,000; two-thirds relates to taxable supplies, rest exempt. Credit alInputs carry total ITC of Rs 60,000, and 25 per cent of their use is for non-business purpInvoice Rs 1,00,000 plus 18% GST unpaid beyond 180 days. ITC added back, ignoring interestInter-State sale Rs 5,00,000, inputs Rs 3,00,000, IGST 12% on both. Net IGST?