TMI BlogUTILIZATION OF INPUT TAX CREDITX X X X Extracts X X X X X X X X Extracts X X X X ..... sir kindly clarify why ITC was not allowed in the case when no restriction is placed in the ACT for utilisation of ITC. CASE - M/s Aristo Bullion Pvt Ltd - 2021 (4) TMI 561 - AUTHORITY FOR ADVANCE RULING, GUJARAT issue raised- Can the applicant use Input Tax Credit Balance available in the Electronic Credit Ledger legimately earned on the inputs/raw-materials/inward supplies (meant for outwar ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d supply of Bullions) towards the GST liability on Castor Oil Seed which were procured from Agriculturists and subsequently meant for onward supply? - Reply By Rajagopalan Ranganathan - The Reply = Sir, Since you are paying gst under reverse charge mechanism under Section 9 93) of CGST Act, 2017 in respect of Castor Oil Seed which were procured from Agriculturists, you are not eligib ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... le to pay gst utilizing the ITC earned by you in respect of inputs/raw-materials/inward supplies meant of bullion. - Reply By Rajagopalan Ranganathan - The Reply = Sir, I apologizes for understanding your question wrongly. For utilization fo ITC no one-to-one correlation is required, that is, to demonstrate the use of bullion in the business of supply of castor oil seeds and vice-versa. Ther ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... efore in my view the order of AAR is to be appealed to appellate authority. I am of the view that you can very well use the credit for payment of gst on supply of castor oil seeds. - Reply By Ganeshan Kalyani - The Reply = I agree with the views of Sri Rajagopalan Sir. - UTILIZATION OF INPUT TAX CREDIT - Query Started By: - vignesh VSACCOUNTOPRIVATELIMITED Dated:- 15-4-2021 Goods and Service ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s Tax - GST - Got 3 Replies - GST - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management 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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