10 December 2020
SIR We are running GTA Private Limited Company (On Reverse Charge Mechanism). We are not eligible for availing ITC on tyres,spares etc., So we suffer lot by paying GST on purchases.
In case if we start an additional business for ex. A steel trading business along with GTA in the same GST number, Can we become eligible for availing ITC on both the Purchase on GTA business as well as the Purchase in trading business? If it is possible, Can it be utilized towards the sales in trading business? Plz guide me sir thanks in adv
CAclubindia
