Rice bran is taxable & other rice is exempt itc available
This query is : Resolved
17 May 2018
Our client running "Rice Mill", He is purchase Gunny Bags for packing & paid GST.
Our problem is Rice Bran is taxable item & other Rice product is exempt, So when we sale Rice Bran taxable 5% ITC of packing material taken or not.
Our problem is Rice Bran is taxable item & other Rice product is exempt, So when we sale Rice Bran taxable 5% ITC of packing material taken or not.
CA Himanshu Ojha
(Expert)
18 May 2018
You can claim ITC on packing material to the extent it is used in taxable supply. And reverse the balance used for exempted supplies.
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