TaxTMI 
TaxTMI 
GST Input Credit
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....ST Input Credit<br> Query (Issue) Started By: - Ethirajan Parthasarathy Dated:- 23-12-2020 Last Reply Date:- 2-1-2021 Goods and Services Tax - GST<br>Got 5 Replies<br>GST<br>An individual has taken tw....
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....o 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 can take ITC on such suppl....
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....y 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 Section 7 of CGST Act. Such transfer is....
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.... 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 supply of capital goods being a distinct person....
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.... 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 on capital goods less 5% per quarter. 2. Recipien....
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....t unit can avail ITC only in case if they are dealing in taxable supply. Regards CA Hemanth Kumar Reply By AshaKanta Sharma: The Reply: Yes...from my view as well Reply By YAGAY andSUN: The Reply....
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....: For Brain Storming - Clubbing of Income whether will be applicable or not in this transaction.<br> Discussion Forum - Knowledge Sharing ....