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Input Tax Credit
Whether ITC of Solar Panel installation for Petrol Pump can be utilized or not.
Replies (3)
can be utilized and capitalized the SOLAR ENERGY PANEL
Proportionate ITC reversal under Section 17(2) r/w Section 2(49) as per manner prescribed under Rule 42/43.
17(2) requires ITC reversal on exempt supply.
2(49) exempt supply includes non-taxable supply. 9(2) provides for non-levy of GST on petrol, diesel.
Rule 42/43 - manner for reversal of ITC.
17(2) requires ITC reversal on exempt supply.
2(49) exempt supply includes non-taxable supply. 9(2) provides for non-levy of GST on petrol, diesel.
Rule 42/43 - manner for reversal of ITC.
thank you and congratulations
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