ITC AVAILABLE?
This query is : Resolved
Kailash Bhati
(Querist)
04 October 2017
If my outward supply is nil rated and some of inward supply is taxable, can I claim ITC?
CA R SEETHARAMAN
(Expert)
04 October 2017
You can't claim ITC in case of exempt outward supply.
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Kailash Bhati
(Querist)
04 October 2017
flour is exempted?
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Kailash Bhati
(Querist)
04 October 2017
non branded flour*
CA R SEETHARAMAN
(Expert)
04 October 2017
Yes it is exempted....................
Kailash Bhati
(Querist)
04 October 2017
thankyou sit
Kailash Bhati
(Querist)
04 October 2017
thankyou sir
CA Rashmi Gandhi
(Expert)
04 October 2017
No you cant claim as same is for exempted supplies..
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Kailash Bhati
(Querist)
04 October 2017
thankyou Rashmi Ma'am
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CA Rashmi Gandhi
(Expert)
04 October 2017
Welcome......My pleasure......
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05 October 2017
This is a very big problem with the dealers dealing in Exempted Goods / Services. This is causing heavy burden on such industries. Sec 9(4) is a big blow for such dealers dealing in exempted items.
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