A company purchases taxable item and give it to third-party with the exact purchase rate towards inputs.
Third party produces exempted product using inputs.
is GST applicable on inputs transfers to third-party?
is GST Applicable on inputs?
Replies (5)
I think this is not a input transfer, this is outward supply. So GST applicable.
Yes GST is applicable since it is transfer and hence considered as Supply
What if ship to third-party & bill to company?
And can company take input credi in this case?
At present company does not take input credit as it sells exempted item.
Even if its a bill to ship to, it is still a outward supply liable to GST. Your company can take the credit as your company is making taxable outward supply. Only the third party is restricted from taking credit as per the provisions of section 17
Recent Topics :
- Bill-to-ship-to material at client site, project c
- Export previously now to be considered domestic sa
- Pan surrender via online
- EPFO Portal Issue – Unable to Save Employee
- Plant & Machinary
- ITC reversal after supplier amended the recipient
- GIFTS TO USEFUL CONTACTS ON FESTIVALS INCOME TAX
- INTEREST ON REFUND OF TDS
- Input tax claim related
- User not found in MCA portal
Related Topics :
CAclubindia
