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If govt reduce tax rate
Sir. if govt reduce tax rate then what will effect on ITC
Replies (1)
Nothing , but balance will get increase in your ECL.
Yes in term of Section 18(4) of CGST Act when the supply of goods or services or both become wholly Exempted then such person need to pay amount by debiting Electronic credit or Cash Ledger equivalent to credit of input available in stock by filing ITC 03
Yes in term of Section 18(4) of CGST Act when the supply of goods or services or both become wholly Exempted then such person need to pay amount by debiting Electronic credit or Cash Ledger equivalent to credit of input available in stock by filing ITC 03
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