Dear All,
We need clarification for below scenario.
i.e. Material Purchased of 100+ 18 tax ( ITC availed for full value of Rs.18)
Same material has been sold to our dealer to 25+ 4.5 Tax .
in this above case ,if there any implication to avail 100% ITC? or we need to reverse, please clarify.
Yes in my opinion you can avail of the 100% ITC because you have sold the goods at loss.
There is no such loss of goods because of which you have to reverse the ITC.
Karia Overseas
Ahmedabad
CA
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O P Bagla & Co LLP
New Delhi
CA Inter
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CAclubindia
