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Input Tax Credit

Can we gain ITC on services? If yes, where we can apply that ITC amount assuming that services are received under FCM basis? Can you please explain this one with an example.


MURALIDAR 05 M

MURALIDAR 05 M

CA Inter

170

15-Mar-21 21:27

20

Answers (1)

ITC can be availed on goods and services, both u/s 16(1) only if used for business purpose. Such ITC can be utilised outward gst liability in the manner given u/s 17. Please go through the videos for examples


sudha reddy

sudha reddy

Moderator

16-Mar-21 10:25

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