Sir/Mam,
With reference to my previous query , mentioned in link — https://www.taxwallah.com/questions/question/gst-on-rent/
I want to ask that, if proprietorship concern is closed, then ITC available on goods cannot be adjusted with Output GST on rent. Am i right ??
2) But if in a month there in NO SALES, and there is ITC on purchase of goods of Rs 100. Output GST ON RENT is Rs 60. Can i adjust ITC on Goods with Output GST on Rent in above case & CLAIM ITC Carry forward?? Note- In next month if we make sale, we will collect tax and pay GST to Govt after adjusting ITC ??
Frah Saeed Answered question August 9, 2020
- Yes.
- You avail the ITC but not utilise the same and carry it forward.
Team Clearmytax.in
Frah Saeed Answered question August 9, 2020