teja kenguva (student) (26 Points)
22 June 2017Hi all ...,
My question is
Suppose a CA firm providing many services has bought Stationery from an unregistered dealer ......i understood that it has to pay to GST on reverse charge mechanism..... whether the paid GST can be taken as INPUT CREDIT???
PLEASE REPLY FAST POSSIBLE
THANKS IN ADVANCE
upasana gupta
(Finance Professional)
(3931 Points)
Replied 22 June 2017
Input Credit Mechanism is available to you when you are covered under the GST Act which means if you are a manufacturer, supplier, agent, e-commerce operator, aggregator or any of the persons mentioned under act and you are registered under GST, You are eligible to claim INPUT CREDIT for tax paid by you on your PURCHASES.Tax paid on reverse charge basis will be available for input tax credit if such goods and/or services are used, or will be used, for business. The service recepient (i.e., who pays reverse tax) can avail input tax credit.
teja kenguva
(student)
(26 Points)
Replied 22 June 2017
Thank you Upasana...............so u are saying that even though bought from an unregistered dealer we can have credit of that..........confirm me this
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