I guess I should get input tax credit for sale of goods in my state for the goods purchased from other state.
This was the problem in case of CST, where we were not getting tax credit for goods purchased from other states and hence the cst was taken as expense and added in margins.
But here, when we talk abt GST, govt said ONE NATION, ONE TAX... Here Sir Modi said he wants to prepare us for the globalization.
But today my accountant told me that I won't get gst tax credit for sale of goods in my state for the goods purchased from other state.
Pls reply with the exact explanation.
Input tax credit for same state sale
Replies (7)
apka question samajh nhi aa rha h
ITC TO AAPKO MILEGI HI AGAR AAP REGISTERD SE BUY KRTE H
sirf lrofit pr GST dena h
Simple he quest Maharashtra state ke bill ( SGST + CGST) ki credit Gujarat me registered person ko ( SGST+ CGST) me kyo nhai mil sakti , whrere is restriction under Sec 17 of the CGST?
purchaser is from direrent state but sgst charged
if purchase form other state and get bill as igst mention
u can adjust that igst tax against sgst and cgst
sanjay rajai g
if you purchase goods from a registered person of other state it is a inter state supply it will chrges igst in his bill . the igst you paid it will be available as a itc for you . you can adjust it against your output liability of cgst sgst & igst.
but if your supplier issue a invoice of intra state or you didn't ask him your destination state than it will chrge cgst and sgst .
the credit of the gst paid by you will not be available for you in your state.
hope it will help you.
for more clarification kindly share the details
thnk you
if you purchase goods from a registered person of other state it is a inter state supply it will chrges igst in his bill . the igst you paid it will be available as a itc for you . you can adjust it against your output liability of cgst sgst & igst.
but if your supplier issue a invoice of intra state or you didn't ask him your destination state than it will chrge cgst and sgst .
the credit of the gst paid by you will not be available for you in your state.
hope it will help you.
for more clarification kindly share the details
thnk you
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