ITC on foreign exchange service

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90 Points Posted on 19 July 2018
sir ,

iam a forien currency exchange service provider.(money exchange )

my question is ,

1.can i avail ITC on business expenses incured to setoff against Gst liability on money exchange services.?????
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On 19 July 2018 at 10:13 Report
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Chartered Accountant
4524 Points Posted on 19 July 2018
If Service provider opt the option to pay tax as per rule 32(2)b of CGST & SGST Rule 2017, then ITC not available.
If cover under normal provisions, then eligible for availe ITC.
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On 19 July 2018 at 11:03
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Practice
32 Points Posted on 08 March 2019

Dear Sir,

Can you tell me where this restriction is written that ITC is not available when we have opted for Rule 32(2)(b). Regards.

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On 08 March 2019 at 12:46

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