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ITC for services of foreman of Chit Fund
Is ITC available on services used by chit fund
Replies (5)
Yes... ITC available.
what about itc on goods
Elobrate your question
1. As per Chapter 99, GST on services supplied by foreman of chit fund is 12%. This is with a condition that itc is not claimed on supply of goods used for providing such services. As this condition is only for claiming ITC on goods, can we claim itc on services used.
2. Can chit fund claim itc on GST paid under RCM?
2. Can chit fund claim itc on GST paid under RCM?
Yes... he can claim itc on input services and also on rcm if they relate to services
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