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ITC reversal on sale of alcoholic liquor for human consumption
Case Law Details
- Case Name
- In re Karnani FNB Specialities LLP (GST AAR West Bengal)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- AAR West Bangal, Advance Rulings
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In re Karnani FNB Specialities LLP (GST AAR West Bengal)
Question: Whether or not the applicant is obliged to reverse input tax credit (ITC) under Section 17(2) of the CGST Act read with Rule 42 of the Central Goods and Services Tax Rules, 2017 (CGST Rules), in view of the sale of alcoholic liquor for human consumption effected by it at its premises under the facts & circumstances of the present case?
Answer: Under the facts & circumstances of the present case, the applicant is required to reverse input tax credit (ITC) in terms of sub-section (2) of section 17 of the GST Act read with...
What is the critertia of calculating exempt supply or non taxable supply i.e inclusive of excise duty or exclusive of excise duty?? if value is calculated inclusive of excise duty then the reversal wille be huge.