09 December 2016
Dear members it would be kind if someone could help me on this. Suppose if an intermediate product is out of GST say electricity and there are inputs say fuel coal etc reqd to generate that electricity. Now when that electricity is used as a intermediate product to generate a final product say aluminum . Will credit on inputs used to generate electricity (viz coal fuel other taxable input) be available!???
12 December 2016
Credit would be available for the raw material, semi-finished and finished goods if they have GST component. If the raw material used in production of electricity is used for actual production of finished goods, credit would be available for the same.
CAclubindia
