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.
AJAY SINGH AND CO LLP
Thane
CA Final
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