Menu
itc on exempt business
Whether itc on goods or assets purchased by a dairy firm is eligible???
Replies (4)
No... ITC not available for Exempted Supplies under GST.
No ITC is available for personal purchases or for capital goods used in exempted sales. This will be indicated in FORM GSTR-2 and shall not be credited to the electronic credit ledger.
whether itc should be availed and then reversed in gstr 3b ??? or we would not show any details in gstr 3b
Not required to do so...
Recent Threads
- Closing Stock111
- INVOCIE GENERATED FROM ONE COMPANY AND EWAY BILL G
- Ineligible itc under section 16(4) & itc restr
- Itc on when mixed sales percent in hospitality
- Apply for GST registration while working in MNC
- Deferment period for Advance Tax under Section 234
- Permanant transfer of duty free goods by Advance A
- 1% TDS Deduction on Property purchase through inst
- Tax on leave encashment on retirement
- Guidance Required on Notices Under Section 234B Af
Related Threads
CAclubindia
