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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Input Tax credit for exempted goods.
Replies (5)
Input tax credit cannot be claimed
yes correct itc not allowed, only if u r export goods even exempted under this act, is liable for itc.
Under which Section ?
In Vat Act it was U/sec. 11.
In Vat Act it was U/sec. 11.
section 17 of CGST Act.
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
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