Input credit under gst
Querist : Anonymous
Some of my friends are saying that a company can get input tax credit against every GST paid by it while making purchase.
My question is this: company makes a purchase of raw material and pays GST to vendor, uses the raw material for production of exempt products.
Now whether the company can get input tax credit (and thus reduce its tax liability against other TAXABLE products sold by it?)
Thanks.
Querist : Anonymous
Querist : Anonymous
Querist : Anonymous
Click here to login now
Similar Resolved Queries
- TDS 194-T applicability
- Tds on commission charges
- GST ITC REVERSE
- Fixe term employment
- TDS on Complimentary "Desi Ghee and Gold Coin" Provided to KBC Contestants
- Need Professional Opinion AY 2012-13 Old Demand
- Withdrawal in cash from partners capital account by partner
- Section 50-fixed asset-->building ceases to exist
- Regarding Applicability of Tax Audit u/s 44AB
- Consolidated financials
- New GST registration for new place of business.
- Starting trading business
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Quick Links
Account Assistant
Chirag P Shah & Co. Chartered Accountant
Pune
B.Com
View Details
Accounts Executive
Hema Yashwanth & Associates
Chennai
B.Com
View Details
SENIOR AUDITOR & ACCOUNTS MANAGER
Anupam Parashar & Co.
Ghaziabad
CA Final
View Details
CA Articles
Kothari Jain Patil & Chartered Accountants
Pune
CA Inter
View Details
Industrial Trainee
Twenty Point Nine Five Ventures Private Limited
Noida
CA Inter
View Details
CCI
Pro
CAclubindia
