related to ITC
chetan (studant) (68 Points)
16 June 2017
a registered person paid gst under reverse charge. Can he take credit on such gst amount ?
6 Replies
CA Prateek Garg
(CA in Practice)
(1447 Points)
Replied 16 June 2017
Section 17(2) only restricts the ITC on exempted supplies on
CA Prateek Garg
(CA in Practice)
(1447 Points)
Replied 16 June 2017
it has nothing to do with inward supplies taxable under reverse charge
CA Prateek Garg
(CA in Practice)
(1447 Points)
Replied 16 June 2017
okay
Suppose A is supplying a service to B and service is liable to tax under reverse Charge..
Now B will have to pay GST on this service.. Section 17 doesn't block the utilisation of GST by B.
Section 17 talks about blockage of credit for A. Due to section 17 supplies made by A will be treated as exempted supply and he will have to reverse the proportionate ITC
Suppose A is supplying a service to B and service is liable to tax under reverse Charge..
Now B will have to pay GST on this service.. Section 17 doesn't block the utilisation of GST by B.
Section 17 talks about blockage of credit for A. Due to section 17 supplies made by A will be treated as exempted supply and he will have to reverse the proportionate ITC
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