Query related to gst on taking of input tax credit?

This query is : Open

RAKESH A PATEKAR (Querist)
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21 July 2017 Dear Sir/Madam,
MR. B Supplying goods but having total turnover below exemption limit of 20lacs so he did not opt for GST registration (unregistered dealer), he is supplying goods which are chargeable at the rate of 18%. On his behalf company is paying tax on reverse charge basis, we as a company are availing @ 5% GST without input credit for output services.
1) Can we get input credit of same which we have paid on behalf of unregistered dealer i.e. MR. A??
2) Can we use the same for setting off against 5% tax liability that is to be paid??

Regards,
Rakesh

Deepti Asawa

Deepti Asawa (Expert)
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21 July 2017 if u r a company availing 5% gst without input tax credit than u can not avail credit of tax paid under reverse charge machanism

RAJA P M

RAJA P M (Expert)
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21 July 2017 Yes I agreed to Deepti Asawa... You can't take ITC for RCM.

RAKESH A PATEKAR

RAKESH A PATEKAR (Querist)
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22 July 2017 Deepti,

If I am paying on behalf of my vendor/supplier than too Company's credit would be lost?
Regards,
Rakesh

RAJA P M

RAJA P M (Expert)
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22 July 2017 Mr. RAKESH PATEKAR.,

What is Business.....?

RAKESH A PATEKAR

RAKESH A PATEKAR (Querist)
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24 July 2017 Tour Operator Services

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