ITC for rice traders
This query is : Resolved
Vidyadhar Hegde
(Querist)
18 August 2022
Dear professionals,
As per the latest GST amendment rice packets below 25kg is attracts 5% GST.
My query is Nowonwards, the rice dealers can claim ITC for business purchases. For eg. Purchase of furniture, GST input on professional fee etc
Kindly clarify.
Thanks in advance
As per the latest GST amendment rice packets below 25kg is attracts 5% GST.
My query is Nowonwards, the rice dealers can claim ITC for business purchases. For eg. Purchase of furniture, GST input on professional fee etc
Kindly clarify.
Thanks in advance
CA Kushwanth AVSR
(Expert)
18 August 2022
If you are exclusively dealing with only taxable commodities and the inputs that you had specified are not used for any personal purposes, then you can claim ITC or else you can claim ITC as per Rule 42 and 43 of the CGST Rules
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