I HAVE RECEIVED A JOB FROM A CENTRAL GOVERNMENT DEPARTMENT WHEREIN THE GST RATE CHARGEABLE IS ONLY 12% AS PER NOTIFICATION 12/2017. I AM PURCHASING THE GOODS AT 18%. WHETHER I AM ELIGIBLE TO CARRY OVER THE DIFFERENTIAL AMOUNT OF 6% IN MY INPUT CREDIT OR RESTRICT THE INPUT CREDIT TO THE AMOUNT OF TAX PAYABLE.
KINDLY CLARIFY.
You are eligible for the entire Input Tax Credit of 18% and balance if any can be carried forward
U CAN C/F THE INPUT TAX
Boutique Investment Bank & Transaction Advisory Firm
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CAclubindia
