please help me to clarify the following
1. can I take credit on lab chemicals which is frequently used in chemical industry for R&D purpose
2. we are purchasing so many items for day to day activities in factory like crockery, kirana, Milk & Tea powder, still I need to pay under RCM, if I pay the GST, can I eligible to take credit
3.can we take credit on Coal which is purchase for industrial purpose
1. Yes
2. You can claim ITC except for food & beverages.
Refer Sec 17 of CGST for disallowance of ITC
3.Yes you can.
CAclubindia
