09 December 2020
SIR We are trading of tyres. We have decided to retread some old tyres. Retreading units will issue GST bill on the services provided. Can we avail that GST input credit and utilize it towards the sales?
10 December 2020
SIR We have also decided to supply the tyres to our other unit (i.e) GTA - Private Ltd and get the tyres from Pvt Ltd for repairing / retreading works. This is only for availing gst inputs on the retreading charges. In such process, let me know the procedures for Issuing tyres to GTA and get them back for repairs.
12 December 2020
SIR Plz see the example---- Mr.A is doing his GTA business (Not Opting 12% GST). Hence, he is not able to avail ITC on purchase of tyres,spares, etc., So, he decides to start an additional business (i.e) trading unit. This is for buying of tyres/spares and sells them to others. If he do so, then, can he get the eligibility of availing GST ITC on Purchases of both from GTA and trading business.
If yes, can the total credits availed be utilized for sales to be made by the trading unit? Or any reversal of ITC on GTA purchases to be made?
CAclubindia
