Input Tax Credit
PrabuSubramanianThangavelpilai (CA Article Assistant) (132 Points)
25 January 2019
Whether ITC of Solar Panel installation for Petrol Pump can be utilized or not.
3 Replies
CA Naveen Chand
(Chartered Accountant)
(12739 Points)
Replied 25 January 2019
can be utilized and capitalized the SOLAR ENERGY PANEL
saurabh sawlani
(Self employed )
(2193 Points)
Replied 26 January 2019
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.
Recent Topics
- Inadvertently filled and filed Form 10-IEA like la
- Delivery challan e-way bill
- LTCG Section (B1-B12) for RSU Sale after Jul/24
- Regarding Hackathon Prize W-8BEN India-US Tax Trea
- Digital1234
- Unable to claim Deduction in ITR 2 u/s 80 CCD(2)
- FDI-FEMA-Interest on Loan to Mauritius based wholl
- GSTR-4 Return in composition scheme
- Income tax - Forms related
- Family Pension deduction under 57(iia) in new regi
Related Threads
Trending Online Classes
-
Input Tax Credit, GST refunds and Recovery of refunds- Roadblocks and way outs
CA Nipun Arora03 September 2025 -
GST LIVE Certification Course - 43rd Weekdays Batch(With Govt Certificate)
Industry Expert15 September 2025
CAclubindia
