Q 485. Where goods(including capital goods) belonging to the principal are lying with the agents on the appointed day, will the agent be able to take ITC on the same?

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Ans.   The agent can take such credit on fulfilment of the following conditions:- The agent is a registered taxable person in GST; Both the principal and the agents declare the details of stock lying with the agents on the date immediately preceding the appointed day; The invoices for such goods had been issued not earlier…

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