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THE MANUFACTURER NOT A DEALER AND ALSO NOT USED THAT PRODUCT IN MANUFACTURING PROCESS.
IN THIS MANUFACTURER CAN AVAIL CREDIT OR NOT?
IN THIS MANUFACTURER CAN RAISE INVOICE WITH PAYMENT OF TAX OR NOT?
KINDLY ADVISE & SUGGEST IN COMING GST RULES & ACTS
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A manufacturer can avail credit of input tax credit for the supply of raw material. The product shall be taxable. The manufacturer can issue tax invoice for the supply of goods if the purchaser is eligble for input tax credit.
Dear Saajanji,
We are a manufacturer but this product not directly used in our final product for example if we are using Zinc Coated (Galvanized wires/Strips) wires/strips in HT cable armouring after that PVC Insulation. This is the final product, the purchased item is ZINC Slabs but using product is Galvanized Wire/Strips.
In this position shall I take credit or not and shall i make taxable invoice or not please clarify and suggest as per GST and C.E.Act/Rules