Need some clarification on tax revers
Input tax credit can be claimed on GST paid to suppliers, while reverse charge makes the recipient liable to pay tax.
The inquiry concerns reclaiming GST paid to vendors. The operative explanation distinguishes Input Tax Credit - GST paid on purchases can be taken as credit against output tax - and the Reverse Charge - recipient must pay GST on supplies from unregistered dealers under the reverse charge mechanism. Advisers reiterate that registration is mandatory above the turnover threshold and voluntary below it, and recommend following auditor guidance or departmental helpdesk instructions for procedural implementation. (AI Summary)
Dear sir/madam,
This is sivakumar.i am starting very small business with GST registered. I am going to buy some furniture and computers for my business. I don't have enough knowledge about GST. so could you please explain me that am I allowed to get tax revers whichever I am going to pay to the vendor. Because my business is not yet open but works are under process. If you don't mind can anyone send a chart of the products that we can revers the tax.
Thanks & Regards
Sivakumar
Goods and Services Tax - GST