Dear Sir,
If we are manufacturing a product and sailing it 0℅ tax but buying it's consumables material with paying tax, so whether we can claim the tax for returns.
As we received the notice for extra claiming tax. can you please suggest.
7 Replies
Eswar Reddy S
(CFO- at NHTF)
(58270 Points)
Replied 25 March 2022
ITC can't availed on zero rated or exempted supplies
Umesh Bhise
(119 Points)
Replied 26 March 2022
Sir, we are the manufacturers of Jaggery Products and for its packing we requires pouches and boxes which is taxable, but we are sailing the Jaggery in 0℅ tax, so whether we can claim the input for which we have paid for pouches and boxes?
SAURABH
(ACCOUNT EXECUTIVE)
(33 Points)
Replied 26 March 2022
nope.............if your outwards supply is taxable...........then you can claim itc on purchase.
SAURABH
(ACCOUNT EXECUTIVE)
(33 Points)
Replied 26 March 2022
nope.............if your outwards supply is taxable...........then you can claim itc on purchase.
Eswar Reddy S
(CFO- at NHTF)
(58270 Points)
Replied 26 March 2022
ITC can be claimed on inputs or services only if those are used in providing taxable supply
sabyasachi mukherjee
(27574 Points)
Replied 27 March 2022
FOR CLAIMING ITC THERE ARE NUMEROUS CONDITIONS WHICH HAS TO BE FULFILLED:
1.VALID TAX INVOICE
2. GST REGISTERED TAXABLE DEALER
3. CANT BE AVAILED ON EXEMPTED SUPPLIES.
1.VALID TAX INVOICE
2. GST REGISTERED TAXABLE DEALER
3. CANT BE AVAILED ON EXEMPTED SUPPLIES.
Eswar Reddy S
(CFO- at NHTF)
(58270 Points)
Replied 27 March 2022
Based on your query , ITC can't be availed
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