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Audit fees ITC
Can i claim full ITC on audit fees if i am dealing in taxable and exempt goods. If yes than help me out with the section or provide helpful revert.
Replies (3)
Quick Summary
ITC would be classified as common credit, of whose eligible portion of eligible ITC needs to be worked out by dividing taxable turnover by total turnover.
refer section 17(2) and rule 42
refer section 17(2) and rule 42
If u can apportion the itc as per turnover of taxable and exempt then first take full credit then reverse the amount of credit apportioned for exempt supply
Yes you can claim ITC on audit fee
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