Unutilised itc
This query is : Resolved
Ravi Mittal
(Querist)
03 October 2017
WE ARE REGISTERED IN GST DEALING ONLY IN EXEMPTED GOODS.
SO ITC CANNOT UTILIZED
WEATHER, WE SHOULD NOT REQUIRE TO PAY GST ON RCM BASIS ON GTA SERVICE TAKEN
OR, WE SHOULD CLAIM FOR REFUND OF UNUTILISED ITC ACCUMULATED DUE TO RCM ON GTA SERVICE
WHAT IS THE LEGAL POSITION ON THIS REGARD
SO ITC CANNOT UTILIZED
WEATHER, WE SHOULD NOT REQUIRE TO PAY GST ON RCM BASIS ON GTA SERVICE TAKEN
OR, WE SHOULD CLAIM FOR REFUND OF UNUTILISED ITC ACCUMULATED DUE TO RCM ON GTA SERVICE
WHAT IS THE LEGAL POSITION ON THIS REGARD
CA R SEETHARAMAN
(Expert)
03 October 2017
YOU ARE REQUIRED TO PAY GST ON RCM BASIS ON GTA SERVICE TAKEN, YOU ARE NOT ELIGIBLE TO CLAIM FOR REFUND OF UNUTILISED ITC ACCUMULATED DUE TO RCM ON GTA SERVICE AS YOU ARE DEALING IN EXEMPT GOODS.
Ravi Mittal
(Querist)
03 October 2017
IF NOW WE START DEALING IN TAXABLE GOODS, THEN WEATHER WE WILL ELIGIBLE FOR CLAIM REFUND OF UNUTILISED ITC OR NOT?
CA R SEETHARAMAN
(Expert)
03 October 2017
You can claim ITC on RCM paid in future related to taxable goods.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
- ITC not to be taken in accounts & GSTR-3B
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
