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Utilise excess ITc for job work
hi , my query is one taxpayer is dealing in goods inputs at18% and output at 12%. meanwhile he is also engaged in job work for different commodity and using excess ITC for job work liability,is this corrects, plz provide information, thanking you
Replies (3)
Yes you can claim the excess ITC for job work.
1) How long ITC has been unutilised?
2) is it current year ITC or previous year?
Please let us know the nature of the business. We can give you precise advice.
Generally, you can adjust your excess ITC against your payable.
Thanks 🙏
Utilize excess itc for job work
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