ITC on raw material but finished good zero rated what to do with this ITC?

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All Questions › ITC on raw material but finished good zero rated what to do with this ITC?

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BILAL AHMAD RAFEEQUE ANSARI asked 5 years ago

ITC on raw material but finished good zero rated what to do with this ITC?

ITC on raw material but finished good zero rated what to do with this ITC.

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SUKUMAR MADHAV KULKARNI answered 5 years ago

ITC on raw material which is used to produce zero rated goods, is not allowed. If You already taken such ITC then You have to reversed the same in GSTR 3B.

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ConsultEase Administrator answered 5 years ago

When outward supply is zero-rated you can claim the refund of ITC.

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