Ementorhub

What you'll learn

Define and explain the key concepts for the availment and utilisation of input tax credit.

Critically analyse whether tax paid on purchases can be availed as input tax credit.

Examine whether or when input tax credit availed needs to be reversed and the reasons thereof.

Distribute the tax appropriately through an ISD and undertake the necessary compliances.

Skills you'll gain

Vendor Contracts

Compliance Management

Compliance Reporting

Document Management

Tax Compliance

Tax Laws

Reconciliation

Invoicing

There are 3 modules in this course

This course provides a platform for learners planning to launch their careers in tax or sharpen their skills with the technical understanding of GST law in India. This program is industry agnostic and is relevant for anyone looking to acquire basic knowledge of GST. It will provide you with the skills required for entry level jobs in the fields of finance, tax, or law. By the end of this course, you will: - Know what is input tax credit and the conditions for availing of such credit - Learn about the restrictions on the availment of credit and understand when credit needs to be reversed - Know the legal requirement for performing reconciliation of purchase records and the detailed process for the same - Identify the practical challenges one may face while performing the reconciliations - Understand the concept of input service distributor, as well as, when and how it needs to be applied.

Reconciling input tax credit

Distributing input tax credits