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Input tax credit availability

Sethuraman Kalyan

One of our clients , a sole proprietor, having two TIN registrations is carrying on business as earth movers and contractors and also as pre mixed concrete manufacturer.

He has purchased materials for building such as cement,stones etc using the TIN of business-1(ie., erath moving and construction contracts) and transferred the material to business-2. Can the input credit in business-1 be availed in business-2. Both businesses having two different TINs.

Please clarify.

Thanks in advance.

Sole proprietor with two TINs can't transfer ITC between businesses; must issue tax invoice for goods transfer. A sole proprietor with two TIN registrations is conducting business as an earth mover and contractor, and as a pre-mixed concrete manufacturer. They inquired about using input tax credit (ITC) from one business for another, given the materials purchased for construction were transferred between the two businesses. A respondent clarified that since each TIN represents a separate entity, ITC cannot be transferred between them. Instead, a tax invoice should be raised to transfer goods. Another respondent noted that having multiple TINs in the same state is generally against regulations, questioning the legality of such an arrangement. (AI Summary)
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