13 August 2017
we have business of cattle feed wholesale. as per rule there is no gst in our cattle feed product. ( hsn code 2302 , 2309 and, 23061090 )i have my gst number for my proprietor ship firm.
my question is that at present i have more than 4 cr. sales turnover p.a. if i pay my indirect expense as like telephone expense , stationery expense , vehicle maintenance expense with tax invoice of gst ?
now we have not paid any gst under our goods because our goods are gst free. now i want tax credit of gst that i paid for business management expense ?
if i get credit than government give me credit in my firm current bank account or give me credit under set off provision?
ex. my total purchase of goods of july 2017 = 35 lakhs ( all goods tax free )
my vehicle maintain expense rs. = 39000 ( where i pay rs. 11464 gst amount ) with tax invoice i pay all this amount by cheque.
now rs. 11464 gst amount can give me government in bank or set off?
03 October 2017
since your final product is not Taxable (it is exempt from GST) you can not avail ITC on any item or any expense. Further in case you are a registered dealer & you purchase taxable item from unregistered dealer, you have to pay GST under Reverse Charge & you CAN NOT avail any ITC on those GST payment also.
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