Input tax credit

ITC / Input 153 views 2 replies
Is ITC allowed on goods used for captive consumption in a factory? And what does it mean?
Replies (2)

captive consumption by the same unit is not a supply. (it is part & process of manufacture)

captive consumption by a another unit within same state is not taxable.

captive consumption by a unit in another state is taxable.

 

ITC allowed on capital good for business purposes


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