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itc & sec 9(3)


harshal Upadhyay   12 March 2018

harshal Upadhyay

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can we take credit of gst paid on material used for factory shed renovation?

no need to issue any invoice while paying reverse charge under sec 9(3) right?

avater

Pankaj Rawat (GST Practitioner)     12 March 2018

Pankaj Rawat
GST Practitioner 
 3569 likes  48227 points

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Yes ITC can avail on repair factory shed , but such expenses should not capitalised

yes a self invoice is to generate by by recepient who reced services on which RCM is done, as per law a payment voucher should also be made

plz read section 31 (3)
f] a registered person who is liable to pay tax under sub-section [3] or sub-section [4] of Section 9 shall issue an invoice in respect of goods or services or both received by him from the supplier who is not registered on the date of receipt of goods or services or both;

[g] a registered person who is liable to pay tax under sub-section [3] or sub-section [4] of Section 9 shall issue a payment voucher at the time of making payment to the supplier.

avater

RAJEEV KUMAR (TAX PROFESSIONAL)     15 March 2019

RAJEEV KUMAR
TAX PROFESSIONAL 
 24 points

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I am filing CMP 02 for the Period 2019-20, I have a Closing Stock of 12,00,000.00 as on 31.03.2019, But there is no ITC balance in Credit Ledger, I want to know that In ITC 03 what figure I have to show, or I should file a NIL ITC 03., because there is no Input Tax credit in the Credit Ledger.


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