Utilize tax
This query is : Resolved
zulfikar sipai
(Querist)
12 January 2018
querry : A firm purchasing cotton seeds (taxable) and manufacturing Cotton Seeds Oil ( taxable) and Cotton Cake( Tax Free) Form crushing.and simultaneously also purchasing castor Seeds ( Taxable) And MAnufacturing Castor Oil (Taxable) And Castor Cake (Taxable) . my question raised Can claim unutilized ITC on cotton Seeds be set off and / or utilized tax libility against castor seeds crushing activity?
CA R SEETHARAMAN
(Expert)
12 January 2018
Yes unutilized ITC on cotton Seeds can be set off and / or utilized tax libility against castor seeds crushing activity.
zulfikar sipai
(Querist)
12 January 2018
thanks you so much sir
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