Itc
This query is : Resolved
12 July 2018
my uncle has saree business and sitiching business. now he was purchasing a capital asset. Can he get ITC credit on capital asset or not.
13 July 2018
ITC is available if the outward taxable services provided using such asset.
13 July 2018
If he is a registered composition dealer then he can claim ITC
13 July 2018
A composition dealer can't claim ITC.
13 July 2018
Can he convert into Regular scheme and then he can claim ITC credit.
Or is there any solution to claim Itc, because the it's amount is 2lac
Or is there any solution to claim Itc, because the it's amount is 2lac
13 July 2018
If he converts himself to be a regular tax payer, he can take ITC.
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