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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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The agent can take such credit on fulfilment of the following conditions:-

  1. The agent is a registered taxable person in GST;
  2.  Both the principal and the agents declare the details of stock lying with the agents on the date immediately preceding the appointed day;
  3.  The invoices for such goods had been issued not earlier than 12 months immediately preceding the appointed day;
  4.  The principal has either reversed or not availed of the ITC in respect of such goods.

This provision is applicable to SGST law only – section 162A and section 162 B

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