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Input tax credit
can we take input tax credit on purchase of packing material used for packing of vegetables seeds which is exempt uder gst...
Replies (12)
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
Same case apply on both services and manufacturer
ITC not available if suplies are exempted.
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
If outward supplies are exempted then no way for claim ITC...
You can't claim ITC on inputs if same materials used for exempted output. Raja is correct.
But agriculture exempt for agriculturists not for company llp
ITC based on supplies not for Assessee ...
We purchase stationery,packing material gst on bill so we can't show gst received in tally
Yes... You are correct.
And reverse the ITC in GST return.
And reverse the ITC in GST return.
Itc reversed with interest or as it is
No need to interest...
Just reverse as it is...
Just reverse as it is...
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