what is the incidence of tax in case of self consumption of goods ??
and what if there is no "movement in goods out of warehouse"?? taxability of GST??
thanks in advance
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self consumption of goods
Replies (4)
no ITC can be claimed
on goods in godown ITC can't be availed if it exceeds the time limit for availing credit
on goods in godown ITC can't be availed if it exceeds the time limit for availing credit
For first question under section 17(5) of the CGST Act, 2017 you will not be eligible for getting ITC due to consumption of goods for personal use.
For second question if you want to sale your godown goods then GST will be leviable inspite of no movement in goods.
For first question under section 17(5) of the CGST Act, 2017 you will not be eligible for getting ITC due to consumption of goods for personal use.
For second question if you want to sale your godown goods then GST will be leviable inspite of no movement in goods.
what will happen in case of trust/ngos when they donate the purchased item free ofcost
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