richa more (manager) (66 Points)
22 May 2017
Gaurav Sarda
(CA)
(36 Points)
Replied 22 May 2017
No, input cannot be availed. As no credit would be allowed under Composition scheme
richa more
(manager)
(66 Points)
Replied 22 May 2017
richa more
(manager)
(66 Points)
Replied 22 May 2017
rohit
(none)
(186 Points)
Replied 22 May 2017
Section 2(62) “input tax” in relation to a registered person, means the central tax, State tax,
integrated tax or Union territory tax charged on any supply of goods or services or
both made to him and includes—
(a) the integrated goods and services tax charged on import of goods;
(b) the tax payable under the provisions of sub-sections (3) and (4) of
section 9;
(c) the tax payable under the provisions of sub-sections (3) and (4) of
section 5 of the Integrated Goods and Services Tax Act;
(d) the tax payable under the provisions of sub-sections (3) and (4) of
section 9 of the respective State Goods and Services Tax Act; or
(e) the tax payable under the provisions of sub-sections (3) and (4) of
section 7 of the Union Territory Goods and Services Tax Act,
but does not include the tax paid under the composition levy;
Section 2(63) “input tax credit” means the credit of input tax;
So, ITC of tax paid under RCM is available.
CA Altamush Zafar
(GST Consultant)
(15971 Points)
Replied 22 May 2017
As per section 10(4) composition dealer not eligible to claim credits on input tax. Input tax includes tax paid on RCM. Therefore no credits will be available.
Studentsca
(CA Practice )
(3577 Points)
Replied 22 May 2017
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