REGARDING AVAILING ITC OF COAL

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proprietor
1205 Points Posted on 22 January 2022

Business A is manufacuting firm . It uses coal for manufacturing . Can Business A avail ITC/Input of coal ?

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On 22 January 2022 at 19:27 Report
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Quick Summary
Manufacturing firms using coal for production can generally avail Input Tax Credit (ITC) on their coal purchases for CGST and SGST/IGST. However, ITC on compensation cess cannot be claimed. If coal is used for captive power generation, ITC is available. If this electricity is sold, a portion of the ITC needs to be reversed in the GST portal.

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CA
10436 Points Posted on 22 January 2022
Yes it can take it
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On 22 January 2022 at 20:38
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GST Consultant
15986 Points Posted on 23 January 2022

It can take ITC of CGST and SGST/ IGST but cannot take ITC of cess if the outward supply is not subject to cess

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On 23 January 2022 at 08:52
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Profession
28271 Points Posted on 23 January 2022
Education cess ìs a different account àlways it cannot be ultimately utilized.
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On 23 January 2022 at 12:23
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GST Consultant
15986 Points Posted on 23 January 2022

Who is talking about education cess. There is no education cess in GST. It is compensation cess.

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On 23 January 2022 at 13:47
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21 Points Posted on 24 January 2022
If u useing of Coal makeing electric city use of own consumption itc avail, in case electric city has been sold to any other the sold portion to be reversed in gstn Gide line.
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On 24 January 2022 at 20:25

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