Good Afternoon,
I want to reverse the ITC for the goods distributed as Free Samples. But How should I calculate the exact ITC to be reversed on 75 Units as My client use several raw materials with different GST Rates.
5 Replies
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 17 January 2020
As per outward goods rate...
Anoop Bansal
(student )
(199 Points)
Replied 17 January 2020
Thanks for Replying
Sir Can you explain why should I reverse the ITC on Outward Rate, not the itc on inputs used for producing them.
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 17 January 2020
I understand based on Your query only...
Please be elaborate Your details...!
Please be elaborate Your details...!
Anoop Bansal
(student )
(199 Points)
Replied 17 January 2020
I have the opinion that My Client is using the inputs and availing ITC for the same but he does not supply them further for consideration which made it no supply under law so no output tax will be paid by him.
Means ITC should be reversed on inputs used for that part of manufacturing of those units
Means ITC should be reversed on inputs used for that part of manufacturing of those units
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 17 January 2020
Dear Member.,
Which one give as sample then reverse the same ITC...
Then what about confusion that...?
Which one give as sample then reverse the same ITC...
Then what about confusion that...?
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