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Input tax credit
Sir my Friend is started a petrol pump in the month of August in Karnataka state. he has taken get registration, pump is not started, he purchase electronic goods , iron, steel, etc for pump purpose, he can claim input tax credit
Replies (3)
Since petrol is out side the ambit of Gst
... so he cannot take itc for non taxable supply.
... so he cannot take itc for non taxable supply.
Yes .. can claim ITC , but whether you have any taxable supply , ... if no then has to Revrse the ITC
Agree with Pankaj sir.
Petrol pumps also sell engine oils, grease and other products on which they will have to pay GST .
So in my view, ITC can be taken and setoff with outwards gst supplies.
Petrol pumps also sell engine oils, grease and other products on which they will have to pay GST .
So in my view, ITC can be taken and setoff with outwards gst supplies.
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