Exam
This query is : Resolved
05 June 2014
goods purchased within state@4% vat and sold within state @ 0% vat
is input tax credit available
is input tax credit available
05 June 2014
if output good is exempted from sales tax, then ITC is not admissible, but if rate of tax is 0% for eg goods are exported or deemed export then ITC is admissible.
Message likes :
1 times
05 June 2014
if nothing is given about export or exemption then also input tax credit is admissible
06 June 2014
ITC is admissible only in the case direct export or sale in the course of export(H form sale).In all other instances ITC can not be claimed.....mjk
Message likes :
1 times
10 June 2014
simple logic of ITC is, if ur output is taxable, even tax rate is 0%, ITC is admissible. but is output item is exempted, no ITC.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- STCG....................................................
- TAN for Partnership
- Treatment of Pension ?annuity returns on PMVY
- Sales return eway bill
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- GST ON DAMAGED GOODS
- Free lancer income
- STCG FOR GOLD ETFs
- AY 26-27 ITR-4 FILING U/S 44-ADA
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
