Narendra Wod (36 Points)
01 March 2021Dear Respected all ,
Good morning. How are you?
I have a query, for example I am a Company, If i take legal services for 10000/-. from a Legal firm then few days later i make the payment of legal services fees and also make the payment of CGST 900 SGST 900 with reverse charges mechanism. now my quest is that ,1. can i get the CGST 900 & SGST 900 in the form of Input tax credit ?
2. Can i avail that the CGST 900 & SGST 900?
Amit Potadar
(Consultant)
(135 Points)
Replied 01 March 2021
Hi Narendra,
to avail ITC first you should be eligible to take credit. If you are eligible (providing Taxable Supplies) then avail the credit. if you are ineligible(Exempt Supplies) to avail credit then you have to discharge GST liability from RCM but you can't avail credit.
Regards,
Amit
Divyam Agarwal
(Practicing Chartered Accountant)
(959 Points)
Replied 01 March 2021
Narendra Wod
(36 Points)
Replied 03 March 2021
Business is buying and selling of Hardware furniture architectural products, like , hook, hinge, door handle, sliding system, door opener closer.
CAclubindia
