For textile industry accumulated ITC after July 2018 3b balance shall lapse!?? pls confirm.
For us inverted itc is from only 12% raw material. Also ITC from other raw materials 5%,
ITC from spares/capital goods 28%,18%,12%,5%
ITC from services on various rates.
So plse xplain does all the ITC balance in credit ledger gets lapse!! if so when does ITC lapse will occur, either we claim or not, will it apply r only if we claim inverted GST structure it applies.
please clarify..
CAclubindia
