Input credit for input of supply of Zero rated items
We are manufacturer’s of Agriculture Implements which are under Zero rated supplies , but our raw material which purchase are taxable purchase, so just want to know we can claim input of those raw material used for manufacturing zero rated items.
Replies (5)
Quick Summary
Yes ITC can be claimed
Guide me about the section under GST law
As per sec 11 of Cgst act 2017 all agricultural products comes under Nil Rated(Notification No. 2/2017-Central Tax (Rate), G.S.R. 674(E) dated 28th June 2017) And said section says ITC cannot be claimed.
However if you are exporters of any goods You are allowed to claim ITC. On basis of Letter of undertaking.
However if you are exporters of any goods You are allowed to claim ITC. On basis of Letter of undertaking.
Yes yes Manjunath is correct
Ideally you cannot use the Input Tax credit (ITC) of those inputs whose output is non-taxable. But as said by you these are Zero-rated supplies, in such case you can claim refund too
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