CA Nagesh Jadhav started off by giving a background of Indirect Taxation in India. He clarified the eligibility and conditions under which one can avail ITC, and the negative list given in the Act.

Further he explained latest amendments in ITC Section 16 to 21. He explained amendments carried out under Section 17(5) and the scope of ITC availability regarding Clause (a) – Motor vehicles used for transportation of persons, Clause (aa) -Vessels or aircraft, Clause (ab) -Services of general insurance, servicing, repair and maintenance of motor vehicles, vessels or aircraft, Clause (b) – Services of leasing, renting or hiring of motor vehicles, vessels or aircraft etc.