Dear Sir,
We are proprietary concern and we are providing security services to our client on RCM basis as well as manpower services on forward charge basis... My query can we claim and utilise the ITC Input received on expenses incurred by our business?
For example if my monthly business turnover includes 80% RCM services.... and 20% Forward charge... So if i have recieved itc of 100% in month. I would be only eligible to to utilise 20% of itc? and rest 80% of itc i have to reversed?...
Is there any circular for this?... If yes please provide a link
There are rules for this. Refer rules 42 & 43
CAclubindia
