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ITC Problem
I purchase paper with 12%gst and manufacture the books and out put GST 0% I can take input tax credit on paper purchase please suggest me !
Replies (4)
No, you can't take ITC due to your outward supply is exempt from GST
Yes you can ..but has to reverse ITC in proportion to Exempted Outward supply (Refer sec.17, Rule 42)
No, you can not take input tax credit as your outward supply is exempt
If outward supply contains both taxable & exempt then you can take input on proportionate basis
If outward supply contains both taxable & exempt then you can take input on proportionate basis
can take but have to reverse.....
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