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TMI BlogITC on Exempted itemX X X X Extracts X X X X X X X X Extracts X X X X ..... Dear Sir Good Evening I want to know that if any one dealing with Exempted item means the final product is exempted in GST but the some of consumable item are taxable then he should claim her ITC o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r not - Reply By Rajagopalan Ranganathan - The Reply = Sir, If the consumables are part and parcel of the final product supplied which is exempted, then you cannot avail ITC of tax paid on consumab ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... les. - Reply By DR.MARIAPPAN GOVINDARAJAN - The Reply = You cannot avail ITC. - Reply By Yash Jain - The Reply = Dear Sir, The plain reason for non availment for ITC is that as your are not liabl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e to Pay GST, then also not eligible to claim ITC, as it will be revenue loss to government. Regards - Reply By Ganeshan Kalyani - The Reply = When the final product is exempt it breaks the chain o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f input tax credit. Otherwise only value addtion to the product gets taxed. You cannot claim input tax credit on the consumables. It is actually a tax burden. But it is fact. - ITC on Exempted item - ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Query Started By: - Subhas Prasad Dated:- 23-9-2018 Goods and Services Tax - GST - Got 4 Replies - GST - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Managem ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ent India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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