9911796707
TMI BlogITC in case of mixed supplyX X X X Extracts X X X X X X X X Extracts X X X X ..... Dear sir, we are in process of manufacturing corn flakes and cattle feed. 1. corn flakes @ 5% GST 2. cattle feed is nil rated for packing material we follow process where we take complete credit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... for packing a material used in corn flakes packing. we dont take any credit for nil rated supplies. is this the right approach ? - Reply By Ganeshan Kalyani - The Reply = Yes , it is correct. Apa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rt from this credit there may be other credit like consultancy service, audit fees etc. where you can take credit to the extent of corn flakes supply. The turnover ratio can be taken to arrive at the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... proportionate credit eligible. - Reply By KASTURI SETHI - The Reply = Proportionate ITC has to be taken as per formula under Rule 42 of CGST Rules . - Reply By Shilpi Jain - The Reply = If yo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... u can identify the packing material expenses for both separately, you can take full credit of the packing material for corn flakes. and reverse full ITC relating to feed. - ITC in case of mixed suppl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y - Query Started By: - husen kadwalwala Dated:- 26-10-2023 Last Replied Date:- 4-11-2023 Goods and Services Tax - GST - Got 3 Replies - GST - Discussion Forum - Knowledge Sharing, reply post by an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... expert, personal opinion Tax Management 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
|
