Hi
I'm a general store operator , i purchase few goods from one manufacturer (bakery items) from same state. That manufacturer is going for composite scheme whereas I'm going for regular GST scheme. in VAT regime i used to get ITC on this purchase.
Will i be able to get some ITC in GST regime for this transaction or i will have to pay the entire tax on Selling cost.
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ITC on purchase from composite dealer
Replies (2)
No ITC will be available, because the bakery dealer will issue Bill of Supply and not Tax Invoice to you.
thanks, and how that ITC shall be calculated.
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