ITC implication

ITC / Input 150 views 2 replies

28 Points Joined March 2017

Dear All,

We need clarification for below scenario.

i.e. Material Purchased of 100+ 18 tax ( ITC availed for full value of Rs.18)

Same material has been sold to our dealer to 25+ 4.5 Tax .

in this above case ,if there any implication to avail 100% ITC? or we need to reverse, please clarify.

Replies (2)

Chartered Accountant

5010 Points Joined March 2020

Yes in my opinion you can avail of the 100% ITC because you have sold the goods at loss.

There is no such loss of goods because of which you have to reverse the ITC.

10436 Points Joined March 2019

Yes you can avail 100% ITC

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