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Section 18 of cgst act


Moneesh Nair (0)     03 June 2020

Moneesh Nair
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Just wanted to clear one doubt...
E.g Mr X supplies 3 exempt products(A,B,C). On 4th of june, product A and B becomes taxable and Mr X has an input of 2lakhs(tax) as on 3rd june.
So as per section 18 Mr X can take the credit of 2 lakh.

My question is that, as product A and B became taxable whereas product c is exempt, whether we have to apply apportionment provision of section 17 or take the full credit of 2 lakh ?

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Vishesh Surana   03 June 2020

Vishesh Surana

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ITC need to be apportioned between the exempted and non exempted goods and take ITC only for Taxable goods

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Shivam RC (Student)     03 June 2020

Shivam RC
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Apportionment Provision i.e. Section 17(2) of the CGST Act 2017 will be applicable here since partly used for Exempt Supply and partly is being used towards Taxable Supply.

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Moneesh Nair (0)     03 June 2020

Moneesh Nair
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Thank you so much

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Shivam RC (Student)     03 June 2020

Shivam RC
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Your most Welcome Sir...

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Vishesh Surana   03 June 2020

Vishesh Surana

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Most welcome sir

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KRISSHNAN KP   06 June 2020

KRISSHNAN KP

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A and B is eligible C is not eligible for ITC thus you have to apply section 17


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