AI Drafter - (New and Powerful) 
Generate professional replies, appeals, opinions to Show Cause Notices, assessment orders, audit objections, and other legal communications using TaxTMI's AI Drafter. 
TaxTMI 
TaxTMI 
GST Input Credit
X X X X Extracts X X X X
X X X X Extracts X X X X
....ST Input Credit<br> Query (Issue) Started By: - Ethirajan Parthasarathy Dated:- 4-11-2020 Last Reply Date:- 10-11-2020 Goods and Services Tax - GST<br>Got 2 Replies<br>GST<br>A person is registered fo....
X X X X Extracts X X X X
X X X X Extracts X X X X
....r GST for payment of tax on rent from commercial property. Subsequently, he diversifies into manufacturing activity. While setting up new business unit, he receives tax invoice for supply of plant & m....
X X X X Extracts X X X X
X X X X Extracts X X X X
....achinery etc., and ITC on the same is duly reflected in his GSTR - 2A. Can he set off this ITC against GST payable on rental income before starting the actual manufacturing. Reply By KASTURI SETHI: T....
X X X X Extracts X X X X
X X X X Extracts X X X X
....he Reply: In my view, 'yes'. You are entitled to use the credit.There is no one to one correlation. ITC earned on goods can be used towards supply of service and vice versa. Reply By Ganesha....
X X X X Extracts X X X X
X X X X Extracts X X X X
....n Kalyani: The Reply: I agree with the views of Sri Kasturi Sir. The input /capital goods are used in course or furtherance of business and one to one co-relation is not required. Hence, credit can b....
X X X X Extracts X X X X
X X X X Extracts X X X X
....e taken.<br> Discussion Forum - Knowledge Sharing ....