Menu
INPUT TAX CREDIT
some one plz tell me,I work in a foods company and they supply their goods both 5% &18% then can be claim ITC on this type of supply?
Replies (6)
| Originally posted by : Sumit Chaudhary | ||
 |
some one plz tell me,I work in a foods company and they supply their goods both 5% &18% then can be claim ITC on this type of supply? |  |
Kindly Elaborate 5 % and 18 % Goods
There are lots of products some sale on 5% rate and some on 18%.
As per section 17. (5)(b)(I) of cgst act 2017 itc is not available for food or beverage and outdoor catering
so if you clearly say the product name then it will be easy to say
so if you clearly say the product name then it will be easy to say
@ Ayusmita But if they are supplying the same line of product then it is not blocked credit for them.
5% &18% can be claim ITC on this type of supply
@ saloni mam got it
I forgot the exption part
Recent Threads
- Company Formation for clothing business
- TDS on purchase 194Q
- Compensation for urban land acquisition
- Understanding section 269st
- CASH AS GIFT OR FD AS GIFT
- NPS Pre Maturity full exit taxation rules
- Planning to ceased a Business
- Taxation for sale and purchase of REIT shares
- PAN - AADHAR LINK
- RECONCILIATION OF GSTR 2B Vs BOOKS WITH VBA
Related Threads
CAclubindia
