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Input tax credit from associated enterprises

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Sreejith S

Manager-Finance

60 Points Posted on 05 August 2011

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)

Pradeep Sharma

business

28 Points Posted on 05 August 2011

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