This discussion addresses the possibility of claiming Input Tax Credit (ITC) for miscellaneous consumable expenditures incurred at a rice mill. While rice itself is exempt from GST, rice bran is subject to a 5% GST. The consensus is that a full ITC claim on all miscellaneous consumables is not permissible, despite the GST on rice bran.
26 October 2023
I have a rice mill in which my company manufactures rice and rice bran . There is no GST on rice, however there is GST @ 5% on Rice bran. I want to claim ITC on miscellaneous consumable expenditures incurred. Is it possible to fully claim of ITC ?