DEALER PURCHASES COTTON FROM FARMERS FOR 1 CRORE , HE PAY TAX FOR THAT AND SUBMIT RETURN.
HE WANTS TO CLAIM THAT TAX (RCM) THE SAME MONTH AS REFUND CAN?
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Rcm for cotton
Replies (2)
no he can't claim refund. tax paid on inward supply can be used to pay output tax but refund can't be obtained.
can claim ITC but can't claim refund
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