alleryStart learning →An Input Service Distributor is best described as what?
AA bank that holds credit
BOffice that distributes credit
CA customs agent for imports
DA job worker of principal
Answer & Solution
Correct answer: B. Office that distributes credit
Section 2(61) defines it as an office of the supplier that receives tax invoices for input services and issues a document to distribute the credit.
Keep practising Input Tax Credit
Browse all Input Tax Credit questions for CA Final, or explore more Indirecttaxlaws topics.
Related questions
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?Sales of Rs 2,00,000, inputs of Rs 1,00,000, intra-State at 18% GST. Net GST payable?