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Input tax credit

ITC / Input 312 views 12 replies
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709 Points Posted on 20 November 2019
can we take input tax credit on purchase of packing material used for packing of vegetables seeds which is exempt uder gst...
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On 20 November 2019 at 12:50 Report
Replies (12)
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53 Points Posted on 20 November 2019
If your more than 80% turnover is tax free then u can't take input of any product..it should not be right to take input of packing material as according to me
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On 20 November 2019 at 13:26
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709 Points Posted on 20 November 2019
Same case apply on both services and manufacturer
1 Reply
On 20 November 2019 at 13:56
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"Do the Right Thing...!!!"
128147 Points Posted on 20 November 2019
ITC not available if suplies are exempted.
463 Reply
On 20 November 2019 at 16:20
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709 Points Posted on 20 November 2019
We grow own agriculture seeds and we sale it's related to manufacturing,so we can take input on purchase bill and services we use
1 Reply
On 20 November 2019 at 16:32
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"Do the Right Thing...!!!"
128147 Points Posted on 20 November 2019
If outward supplies are exempted then no way for claim ITC...
463 Reply
On 20 November 2019 at 16:33
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Learner
2398 Points Posted on 21 November 2019
You can't claim ITC on inputs if same materials used for exempted output. Raja is correct.
2 Reply
On 21 November 2019 at 11:51
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709 Points Posted on 21 November 2019
But agriculture exempt for agriculturists not for company llp
1 Reply
On 21 November 2019 at 13:54
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"Do the Right Thing...!!!"
128147 Points Posted on 21 November 2019
ITC based on supplies not for Assessee ...
463 Reply
On 21 November 2019 at 14:29
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709 Points Posted on 21 November 2019
We purchase stationery,packing material gst on bill so we can't show gst received in tally
1 Reply
On 21 November 2019 at 14:43
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"Do the Right Thing...!!!"
128147 Points Posted on 21 November 2019
Yes... You are correct.
And reverse the ITC in GST return.
463 Reply
On 21 November 2019 at 14:49
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709 Points Posted on 21 November 2019
Itc reversed with interest or as it is
1 Reply
On 21 November 2019 at 14:52
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"Do the Right Thing...!!!"
128147 Points Posted on 21 November 2019
No need to interest...
Just reverse as it is...
463 Reply
On 21 November 2019 at 14:56


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