Input tax credit
shikha rani (article) (173 Points)
05 March 2018
Is ITC allowed on goods used for captive consumption in a factory? And what does it mean?
shikha rani (article) (173 Points)
05 March 2018
CA Naveen Chand
(Chartered Accountant)
(12729 Points)
Replied 05 March 2018
captive consumption by the same unit is not a supply. (it is part & process of manufacture)
captive consumption by a another unit within same state is not taxable.
captive consumption by a unit in another state is taxable.
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