itc on exempt business
kishan agarwal (ARTICLE) (144 Points)
26 May 2018
Whether itc on goods or assets purchased by a dairy firm is eligible???
4 Replies
RAJA P M
("Do the Right Thing...!!!")
(128111 Points)
Replied 26 May 2018
No... ITC not available for Exempted Supplies under GST.
Vinod Babu
(24196 Points)
Replied 26 May 2018
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.
kishan agarwal
(ARTICLE)
(144 Points)
Replied 26 May 2018
whether itc should be availed and then reversed in gstr 3b ??? or we would not show any details in gstr 3b
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