06 February 2020
SUPPOSE, PURCHASE OF RAW MATERIAL IS AT HIGH RATE IE. 18% AND SALE OF FINISHED GOODS IS AT LOW RATE IE: 5%. CAN ITC BE CLAIMED IN SUCH CASE.??
06 February 2020
Yes, ITC can be claimed ( unless specifically blocked u/s 17(5). You can even claim the refund for accumulated ITC due to inverted duty structure.
CAclubindia
