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Input Tax credit for exempted goods.

28 January 2018

If a firm registered under this Act purchases taxable goods, & taking taxable services, & manufacturing a product exempted under this Act.
Can Input Tax credit be claimed ?
& if yes how ?

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5 Replies

caporselvi dk (11 Points)
Replied 28 January 2018

Input tax credit cannot be claimed

1 Like

Harshad S Gholap (Auditor) (116 Points)
Replied 28 January 2018

yes correct itc not allowed, only if u r export goods even exempted under this act, is liable for itc.

1 Like

Prashant I. (7 Points)
Replied 28 January 2018

Under which Section ?
In Vat Act it was U/sec. 11.

Raj Chaurasia (273 Points)
Replied 29 January 2018

section 17 of CGST Act.

Anurag Agarwal (CA Final, Advocate) (292 Points)
Replied 03 August 2018

If goods are taxable at the time of purchase and now exempt on the sale. What will be the treatment of ITC paid on purchase. Qoute with section or rule