Tax Management India. Com
                        Law and Practice: A Digital eBook ...

Category of Documents

TMI - Tax Management India. Com
Case Laws Acts Notifications Circulars Classification Forms Manuals SMS News Articles
Highlights
D. Forum
What's New

Share:      

        Home        
 
Discussions Forum
Home Forum Goods and Services Tax - GST This
A Public Forum.
Anyone can participate to share knowledge.
We acknowledge the contributions of Experts/ Authors.

Submit new Issue / Query

← Previous Next →

Two business in one GST number, Goods and Services Tax - GST

Issue Id: - 115936
Dated: 25-1-2020
By:- KARAN VERMA
Two business in one GST number

  • Contents

If I have one business paper mill and other business is Production of film.

Whether I am eligible to utilise ITC availed on raw material used in manufacturing paper in outward liability of films.

Post Reply

Posts / Replies

Showing Replies 1 to 2 of 2 Records

1 Dated: 26-1-2020
By:- KASTURI SETHI

One-to-one correlation is not requirement under CGST Acts/Rules. ITC can be utilised if you fulfill the condition of "being used or intended to be used in the course or furtherance of his business" as per Section 16(1) of CGST. Other conditions laid down under Sections 16, 17 & 18 are to be complied with.


2 Dated: 30-1-2020
By:- KASTURI SETHI

In support of my reply above, statutory force is as under :-

Section 49 (4) of CGST Act

 "The amount available in the electronic credit ledger may be used for making any payment towards output tax under this Act or under the Integrated Goods and Services Tax Act in such manner and subject to such conditions and within such time as may be prescribed."

Further only conditions mentioned under Sections 49 A and 49(5) of CGST Act are to be fulfilled.


1

Post Reply

← Previous Next →

|| Home || About us || Feedback || Contact us || Disclaimer || Terms of Use || Privacy Policy || Database || Members || Refer Us ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.
|| Blog || Site Map - Recent || Site Map || ||