there is a situation where law allows us that if we had purchased a capital good for exempted supply and later on we start using it for taxable supply we would be allowed to it subject to some cond.
My doubt is that suppose I purchased it in June for exempted
supply now in month of July while filling return I wouldn't be allowed it as it is exempted supply thus my credit ledger will not have anything in it.
But law allowes us this itc if we subsequently use it for taxable supply.The thing is that when my credit ledger doesn't have any balance how will I get itc.
CAclubindia
