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
| Originally posted by : Sreejith S | ||
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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 |
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Yes ..
Offcourse you can take input credit .
Thank You for the clarification
CAclubindia
