Sir,
We are traders and import and sell locally. We pay GST @ 18% while paying customs duty and othe cess.
As the prices are fluctuation we had to incurr 10% loss on purchase price and sell the goods imported. Can the excess itc be used for other supllies
Excess ITC ll be use other supplies.
(You can sell your goods to LOSS then want/in your hand exact documents. Bcoz., Dept ask "How to it LOSS...?")
Boutique Investment Bank & Transaction Advisory Firm
Gurgaon
CA
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Sri Aurobindo Gnostic Centre of Education
New Delhi
CA
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