ITC CREDIT
vishvendra amin (21 Points)
07 June 2018
We have ordered machinery from our factory at Daman (buyer) to supply at our Gujarat factory (ship to). now who will take the credit?
3 Replies
felix thomas
(student)
(159 Points)
Replied 07 June 2018
Sir , it’s a clear case of bill to ship to model . In this case the first sale happens between the supplier and the factory at Daman(buyer). The supplier would issue and invoice in the name of the buyer at Daman. Then the buyer at Daman shall issue a gst invoice to the factory at Gujurat...now buyer (Daman) can take ITC of the said machinery and when he invoices it to factory(gujurat) he is liable to charge gst thereby nullifying the effect of itc taken. Effectively the ultimate credit of the machinery purchased will be taken by the factory at gujurat.
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