Input tax credit is admissible even if consideration is paid through book adjustment

In re Senco Gold Ltd (GST AAR West Bangal) The Applicant intends to settle the mutual debts through book adjustments. He seeks an advance ruling on  whether the input tax credit is admissible when he settles through book adjustment the debt created on inward supplies from the Franchisee. AAR held that The Applicant can pay […]

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