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Compensation whether "furtherence of business" for input tax credit

Compensation whether furtherence of business for input tax credit - Goods and Services Tax - Started By: - Rakesh Chitkara - Dated:- 20-6-2017 Last Replied Date:- 4-7-2017 - FACTS :A developer pays compensation to its customers to compensate for dela .....

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ensation.Whether such tax will be paid under RCM because the customer is an unregistered person ?If yes, then whether developer can get the ITC of the same ?First Opinion1. This is an expense item. 2. Self - Invoice would be raised bearing unique ser .....

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because -ITC is available in terms of the enabling provision which states that services which are used or intended to be used for the purpose of furtherance of business or commerce is available as credit. In case of delayed payment of compensation, .....

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an activity used or intended to be used for the purpose of furtherance of business or commerce for ITC purposes ? Is it expansive and enlarges the scope or is it an expression of restricting the scope ?Also relevant case laws please. - Reply By Mehak .....

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fy this definition, there have to be 2 important things. First, there has to be an ACTIVITY and second there should be a CONSIDERATION for that activity. In our case, activity is that the customer is waiting and giving an extension for completion in .....

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9(4), if the supply of taxable goods or services or both by a supplier(in our case customer), who is not registered, to a registered person (developer), shall be paid by such person (developer) on reverse charge basis as recipient. 3) If yes, then wh .....

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