TMI BlogGST Input CreditX X X X Extracts X X X X X X X X Extracts X X X X ..... An individual has taken two GSTIN for the sake of retaining two different Tradenames. Can he raise tax invoice for supply of some capital goods from one unit to another and whether the receiving unit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... can take ITC on such supply - Reply By Rajagopalan Ranganathan - The Reply = Sir, The answer is yes. It is permitted. - Reply By KASTURI SETHI - The Reply = Yes because it is a supply under Se ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ction 7 of CGST Act . Such transfer is independent and fresh transaction. Hence liable to GST and ITC can be taken. - Reply By Hemanth Kumar - The Reply = 1. Yes. tax invoice can be raised for su ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pply of capital goods being a distinct person transaction and care has to be taken on value of supply as per section 18(6) which will be higher of a. Tax on transaction value or b. ITC availed ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on capital goods less 5% per quarter. 2. Recipient unit can avail ITC only in case if they are dealing in taxable supply. Regards CA Hemanth Kumar - Reply By AshaKanta Sharma - The Reply = ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Yes...from my view as well - Reply By YAGAY andSUN - The Reply = For Brain Storming - Clubbing of Income whether will be applicable or not in this transaction. - GST Input Credit - Query Started ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... By: - Ethirajan Parthasarathy Dated:- 23-12-2020 Goods and Services Tax - GST - Got 5 Replies - GST - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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
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