The Karnataka Authority for Advance Ruling (AAR), held that claim of Input Tax Credit can be made on Capital Goods under Marginal Scheme. The applicant, M/s Attica Gold Private Ltd is into the sale of second-hand goods i.e used gold jewellery which they are buying from individual persons and hence they following “Marginal Scheme” for discharging the GST liability under Rule 32(5) of the COST Rules 2017. The Applicant wants to know whether they can claim Input Tax Credit on the expenses like Rent, Advertisement expenses, commission, Professional expenses and other like expenses while being under Marginal Scheme.
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