Input tax credit from associated enterprises

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Company "A" has an associated enterprises named Company "B".  Share holding pattern of Company B is as below

50% - holding by Company A

25% - holding by Director 1 of Company A

25% - holding by Director 2 of Company A

Both companies are billing each other for various services.  Can Company A take input tax credit from the invoice of Company B and viceversa?  Pls clarify


Thanks

Sreejith

Replies (2)
Originally posted by : Sreejith S

Company "A" has an associated enterprises named Company "B".  Share holding pattern of Company B is as below

50% - holding by Company A

25% - holding by Director 1 of Company A

25% - holding by Director 2 of Company A

Both companies are billing each other for various services.  Can Company A take input tax credit from the invoice of Company B and viceversa?  Pls clarify


Thanks

Sreejith

 Yes ..

Offcourse you can take input credit .

 

 

Thank You for the clarification


CCI Pro

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