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 Topic
- Issue with ITR2 online utility for HUF
- TDS deducted by EPFO under wrong section
- Schedule SI in ITR-2
- What is the easy way to do CA- through foundation
- Schedule FA query for this AY 2026-27
- Business income source for husband and wife
- Set off of LTCL against STCG under section 536(2n)
- Audit Workflow tool
- Is CA through direct entry easy for a commerce stu
- Dividend and withholding tax - DTAA- RSU
Related Topics
CAclubindia
