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whether itc can be claimed??

ITC / Input 246 views 8 replies
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Pro
248 Points Posted on 10 June 2018
Whether itc of exempt supply can be claimed with taxable supply..
I. E having two business
One is taxable and another is exempt
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On 10 June 2018 at 02:39 Report
Replies (8)
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Tax Consultant
894 Points Posted on 10 June 2018
no, itc can not be claimed if outward supply is exempt
2 Reply
On 10 June 2018 at 05:46
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24196 Points Posted on 10 June 2018
No ITC cannot be taken in your case
161 Reply
On 10 June 2018 at 08:47
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Tax Consultant
233 Points Posted on 10 June 2018
Hope there is a provision for proportionate ITC Claim for Taxable & Exempt outward supplies.
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On 10 June 2018 at 15:07
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GST Practitioner
55067 Points Posted on 10 June 2018
There is Rule & Act in this regard:
Kindly refer Rule 42, & Section 17 CGST Act
301 Reply
On 10 June 2018 at 15:29
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24196 Points Posted on 10 June 2018
Agreed
161 Reply
On 10 June 2018 at 15:32
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Pro
248 Points Posted on 10 June 2018
Thanks everyone
1 Reply
On 10 June 2018 at 16:12
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502 Points Posted on 10 June 2018
As per Rule 42, but common credit should be reversed to the extent exempted sales.
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On 10 June 2018 at 18:50
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24196 Points Posted on 10 June 2018
I also agree to views of Mr Murali.
161 Reply
On 10 June 2018 at 18:56


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