how to take ITC on Rent paid for shop under unregister dealer?
chetan singhania (student) (71 Points)
22 July 2017how to take ITC on Rent paid for shop under unregister dealer?
sashi nair
(business)
(44 Points)
Replied 22 July 2017
If the registered dealer is buying goods or services from an unregistered dealer then, the registered dealer will be liable to pay tax on supply. The service recipient can avail Input Tax credit on the Tax amount that is paid under reverse charge on goods and services. The only condition is that the goods and services are used or will be used for business or furtherance of business.
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