Subsidy from Govt.

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..... XYZ Ltd. receiving subsidy from government on which as understood no GST is payable. In that case, are they required to proportionately reverse the Input Tax Credit taken on common goods and services? .....

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..... - Reply By Ganeshan Kalyani - The Reply = In my view no reversal is required. - Reply By KASTURI SETHI - The Reply = Dear Sir, I agree with Sh.Ganeshan Kalyani, Ji. The definition .....

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..... of 'Exempt Supply', inter alia, includes non-taxable supply. This does not include 'no-supply or non-supply'.Subsidy is non-supply/no-supply. To qualify as non-taxable supply, it .....

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..... must be 'supply' first in order to fall in the definition of 'Exempt Supply for the purpose of reversal of ITC. Hence no reversal of ITC at all. - Subsidy from Govt. - Query Started B .....

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..... y: - Kaustubh Karandikar Dated:- 14-6-2019 Goods and Services Tax - GST - Got 2 Replies - GST - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - .....

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..... taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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