Input Tax Credit
PrabuSubramanianThangavelpilai (CA Article Assistant) (132 Points)
25 January 2019
Whether ITC of Solar Panel installation for Petrol Pump can be utilized or not.
3 Replies
CA Naveen Chand
(Chartered Accountant)
(12729 Points)
Replied 25 January 2019
can be utilized and capitalized the SOLAR ENERGY PANEL
saurabh sawlani
(2191 Points)
Replied 26 January 2019
Proportionate ITC reversal under Section 17(2) r/w Section 2(49) as per manner prescribed under Rule 42/43.
17(2) requires ITC reversal on exempt supply.
2(49) exempt supply includes non-taxable supply. 9(2) provides for non-levy of GST on petrol, diesel.
Rule 42/43 - manner for reversal of ITC.
17(2) requires ITC reversal on exempt supply.
2(49) exempt supply includes non-taxable supply. 9(2) provides for non-levy of GST on petrol, diesel.
Rule 42/43 - manner for reversal of ITC.
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